Article – Mining titan who matters now more than ever:Australia’s Gina Rinehart is defying the downturn and making history19 July 2013
July 19, 2013
At a time when the mining industry is being rocked by the ill winds of falling metal prices and sagging investor support, it is encouraging to find the occasional nugget of good news, which is what Australia’s Roy Hill iron-ore project represents.
Rather than retreating, currently the preferred tactic of most big mining companies, the owners of Roy Hill have opted to move forward, taking on board the advice of one of the most successful investors, Warren Buffett.
Nicknamed ‘the Sage of Omaha’, it was Buffett who coined the expression: “Buy when others are selling, and sell when others are buying.” This is harder to accomplish than it sounds because it means going against the herd.
But being different is not something that the woman behind Roy Hill, with its US$10 billion price tag, finds difficult because Gina Rinehart is unlike any other leader in the world of mining.
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