BHP's Mt. Whaleback mine

Race to the bottom has a way to run

Architects have a saying about ‘less being more’. The mining industry has flipped that around with ‘more being less’, as shown in this week’s production reports and share prices of Fortescue Metals Group and BHP Billiton.


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not all mining is undertaken with the madness of the iron ore operators. Sometimes, people are sensible and constrain supply to retain prices. As Ivan Glasenberg keeps saying, there is no logic in the current approach because it does not maximise returns to anyone except the Chinese buyers; the shareholders lose, the whole of Australia loses.The iron ore miners have been played by the Chinese as complete mugs it seems.

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BHP Billiton (BHP)

Share Price

Closing price for the last 90 trading days
Source: Morningstar

Total Shareholder Return as at 28/02/18

1 year TSR5 year TSR
289thBHP Billiton27%2%
711 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar


th-BHP Billiton$50,729.3m
77 listed non wa companies ranked by revenue.
Source: Morningstar

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