3 ms·
Do you have another market for them where they can sell 1 billion tons of iron ore a year ?
by MaxPock 2y ago
Do you have another market for them where they can sell 1 billion tons of iron ore a year ?
- creato 2y agoThey could process it themselves and consume or export those higher value materials
- defrost 2y agoSee: https://news.ycombinator.com/item?id=42593404 https://news.ycombinator.com/item?id=42593404 Australia itself doesn't have the demand for that much steel internally - China does (and exports its excess production).
- grecy 2y ago> and exports its excess production Which is exactly what Australia could do if it made a bunch of steel.
- bigfatkitten 2y ago> China does (and exports its excess production). With no small amount of it exported to Australia.
- fakedang 2y agoSaudi Aramco has a $50 billion dollar subsidiary called SABIC whose purpose is to take oil byproducts and refine them into plastics. Does Saudi Arabia have a huge plastic market? Or did they just think, hey, we could export this shit elsewhere for more money! You literally let an Australian company process it to higher value products and ship it? That's literally what every oil major has done with their resources.