The Australian reports that WA Premier Colin Barnett just called the end of the Iron Ore boom — fresh off the plane from Beijing …
COLIN Barnett has declared that the golden days of the iron ore boom in Western Australia have ended…
After returning from an official visit to Beijing, the WA Premier said today he believed that Chinese steel production was levelling off and current mine expansions by BHP Billiton, Rio Tinto and Fortescue Metals Group in the Pilbara would signal the end of the huge recent increases in iron ore investment.
“I think that will be the last of the strong growth in iron ore production,” he said.
“I guess what I’m saying is the golden days of iron ore have passed, or are passing, and the industry will reach a mature level of production, which is nevertheless a massive industry.”
I am in ore of his prescience!!
yeah, a bit late — but notable due to his position and where he’s just been. also fits / continues our discussion about the WA economy.
Geez if he is only realising this now I fear for WA. Tells me he has done nothing to prepare WA for a very predictable transition. Idiot!
must have been the sound of the second shoe hitting the ground that got his attention …
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