Sunny is right but its too bad they are missing the low shipping costs -with oil making up the largest part of ship costs- and low trucking costs-and low labor costs in latin america
coastal mines-at least in latin america- can still be making a profit-especially with premiums for lump and above grade ore
people always forget that ore prices were only 10-14/ton til 2002 And didnt reach 45/ton til 2008 or 2009