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 OZschwitz billionaire rightly blames high mining costs on government

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RR Phantom

RR Phantom

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OZschwitz billionaire rightly blames high mining costs on government Vide
PostSubject: OZschwitz billionaire rightly blames high mining costs on government   OZschwitz billionaire rightly blames high mining costs on government Icon_minitimeWed Mar 11, 2015 10:43 pm

Australia's richest woman Gina Rinehart has attacked federal and state governments for inflicting high costs on local miners, which are battling plunging iron ore prices as global supply swells.

OZschwitz billionaire rightly blames high mining costs on government Article%20Lead%20-%20wide6725163513t3s5image.related.articleLeadwide.729x410.141foz.png1426088287651.jpg-620x349

Mrs Rinehart, who is building on her father's iron ore legacy by developing the $10 billion Roy Hill mine in Pilbara, also endorsed expansion strategies by BHP Billiton and Rio Tinto. The major miners have come under fire for flooding iron ore markets and depressing iron ore prices.

"You know if Australia doesn't export, someone else will," Mrs Rinehart told Fairfax Media on the sidelines of the Global Iron Ore & Steel Forecast conference, in Perth, on Wednesday.

Mrs Rinehart, who is estimated by BRW to have a $20 billion fortune, said it was high costs, rather than low iron ore prices that affected her Roy Hill project.

Read more: http://www.smh.com.au/business/gina-rinehart-blames-high-mining-costs-on-government-20150311-141foz.html#ixzz3U8SquZ00
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