Alarm bells sound on Rinehart's hill

The price of performance guarantees on mining loans is set to rise, while the cost of owning and operating sites has gone through the roof – none of which augurs well for Gina Rinehart's Roy Hill project.

In theory this should have been a good week for Gina Rinehart's Roy Hill iron ore project. The stock market is clearly recognising that China is turning on the economic booster burners again and in due course that should lift demand for iron ore – good timing for a new iron ore mine.

At the same time the government approved her application for foreign workers at Roy Hill, albeit with controversy.

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