Category Archives: Iron and steel

When Henry met Rio

John Garnaut Fairfax Digital, March 29, 2015 American statesman Henry Kissinger pocketed close to US$5 million ($6.4 million) for guiding mining giant Rio Tinto to wash its hands of its jailed China chief, Australian citizen Stern Hu, and build relations with Bejing. Fairfax can reveal that the 92-year-old former US secretary of state made clear

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Fortescue Metals moves to rescue falling share price, but too late?

   Michael Sainsbury Crikey, crikey.com.au, March 13, 2015. Andrew “Twiggy” Forrest’s Fortescue Metals Group will need to move soon if it’s to avoid serious financial strife caused by the ongoing downturn in the global iron ore market. The world of Fortescue Metals Group can be a strange place. It is seeking to raise $2.3 billion

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In the Year of the Goat, we must bell the Chinese cat

Despite the optimistic posturing of Australia’s Reserve Bank governor Glenn Stevens, China’s economy is in trouble, and it’s time for Australia to readjust its policies to recognise the looming downturn. Australians, led by Treasurer Joe Hockey, will be hoping that, in the run-up to Chinese New Year, Australia’s Reserve Bank governor Glenn Stevens didn’t reveal

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Vale’s maxiships to hit China – bad news for FMG

Michael Sainsbury As the iron ore price continues to hover just above US$60 per tonne close to a six year low, there is more bad news looming for Australian iron ore producers. China is preparing to finally allow the largest iron ore  carriers ever built called maxiships  into their ports. Operated by Brazil’s Vale SA, the world’s second largest producer

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