Don’t believe the iron ore conspiracy theory

Are the big iron ore guys really conspiring to put the small producers out of business? The short answer is ‘no’, and here’s why.

It’s curious how people prefer to choose a conspiracy theory over obvious logic, with Rio Tinto’s Sam Walsh having to again deny that the big iron ore miners are co-ordinating their expansions to drive out competitors and regain control of the iron ore market.

As Walsh said in an interview with the Wall Street Journal at the weekend, that’s “absolute nonsense”.

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