Posted On: 09/14/2013 9:12:14 AM
Post# of 8059
And for whatever reason 180k tons does not necessarily limit to that.
The 2011 permit posted April 2011 etc was ca 45k tons -yet they shipped 38524 tons plus 36002 tons in 2011 and had another ca 40000 tons ready to ship for an expected 12-21-11 ship but govt cancelled 2011 permits prematurely that year apparently due to illegal mines and then added extra audits for 2012 to catch the same.
India was even worse -they cancelled all exports at least from certain states if not all India for periods of time until the govt could get a handle on illegal mines. Why problem w illegal mines now-because ore was only 10-14/ton til 2002, rose to 192 Feb 2011, and is now 135, so iron became insanely profitable if jv partner wasnt allegedly withholding millions of receipts and if the govt wasnt playing port etc games,having contested elections etc and continually changing the rules due to illegal mines.
When dealing w govt things dont always mean what they say. E.g. by law in many jurisdictions property is required to be be appraised at 100% of market value for property tax purposes but we all know that isnt the case.
The 2011 permit posted April 2011 etc was ca 45k tons -yet they shipped 38524 tons plus 36002 tons in 2011 and had another ca 40000 tons ready to ship for an expected 12-21-11 ship but govt cancelled 2011 permits prematurely that year apparently due to illegal mines and then added extra audits for 2012 to catch the same.
India was even worse -they cancelled all exports at least from certain states if not all India for periods of time until the govt could get a handle on illegal mines. Why problem w illegal mines now-because ore was only 10-14/ton til 2002, rose to 192 Feb 2011, and is now 135, so iron became insanely profitable if jv partner wasnt allegedly withholding millions of receipts and if the govt wasnt playing port etc games,having contested elections etc and continually changing the rules due to illegal mines.
When dealing w govt things dont always mean what they say. E.g. by law in many jurisdictions property is required to be be appraised at 100% of market value for property tax purposes but we all know that isnt the case.
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