I'll just start with a joint announcement from BHP and Rio .... "Beatings will continue until the price of iron ore improves"
Check this out:
Several Iron Ore Producers Placed On CreditWatch Negative After S&P Revises Downward Its Price Assumptions
Standard & Poor's Ratings Services said that it has placed the ratings on the following iron ore producers on CreditWatch with negative implications:
• Anglo American PLC
- BHP Billiton Ltd.
• CAP S.A.
• Eurasian Resources Group (ERG) S.a.r.l.
• Exxaro Resources Ltd.
• Fortescue Metals Group Ltd.
• Rio Tinto PLC
• Vale S.A.