Yeh it’s only been delivering consistent revenue for the state since the 70’s. Until the world stops needing steel or we’ve dug it all up then it will continue to keep WA a rich state. McGowan getting our fair share of gst back was just the icing on the cake.
we’ve had booms like in 2012 when ore prices went silly high but in 22 years of living there it hasn’t ever had a bust period. It’s either caviar or lobster, never beans on toast in perth!
lol yeh when twiggys earnings go down from $800mill a year to
$200mill a year I’m sure he’ll be feeling the pain!
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All of the growth in iron ore was the urbanisation of China, that has been completed and with thier population now in decline the current output won't be sustained.
Like all things it's supply and demand that sets the price. Currently supply outstripping demand pushing prices to the downside, this will continue until ore miners at the margin are selling at a loss and stop producing ( Forrest came close once already)
All that aside, it's the expansion of mines that drives a boom/ jobs and migration. I doubt we'll witness an increase in production for at least a couple of decades.
The mining boom is done.
I couldn't really care less about Twiggy but when is business starts haemorrhaging money and he's losing millions every week, cutting expenses is only natural.
Nathan Tinkler and the Nights know only too well.
You don't really seem to learn from your bad calls, you just got burned from your insistence that having the WA government in your corner was a home run
Now it's the exuberant price of one of the mist common elements on earth...
Have at it, you'll see how mining booms end in this country.
And well done in remaining a condescending twat after soooo many bad calls.
