The Man Who Killed the Iron Ore Benchmark

<p>Marius Kloppers spent nearly a decade fighting to tear up the way the world priced iron ore. </p><p>In his words, &quot;I carry the scars on my back for bringing this matter to the attention of the world.&quot; </p><p>After the most turbulent decade in recent commodity market history, he won. Iron ore would float on the open market. </p><p>We relive the fight, and look at it in the context of today&#39;s standoff, with China&#39;s state buyer CMRG organising to claw back power from the Aussie majors. </p><p><br></p><p>……………  </p><p><strong>  </strong></p><p><strong>TIMESTAMPS  </strong></p><p>(0:00) BHP Ends the Benchmark<br>(7:10) How Annual Pricing Worked<br>(10:50) China Enters the Picture<br>(16:50) Meet Marius Kloppers<br>(22:50) 2000s Price Shocks and Freight<br>(28:50) Kloppers Pushes Market Pricing<br>(34:40) Takeover Bid and Benchmark Cracks<br>(40:40) GFC Fallout and Contract Defaults<br>(47:30) Stern Hu Arrest and Spot Victory<br>(56:10) CMRG Returns, Price Wars</p><p>……………  </p><p>  </p><p>Join 19k+ subscribers to the <a href="https://www.moneyofmine.com/subscribe">⁠⁠⁠⁠⁠⁠⁠⁠Director’s Special⁠⁠⁠⁠⁠⁠⁠⁠</a>:one daily email with all the news that matters in mining  </p><p>……………  </p><p><strong>  </strong></p><p><strong>PARTNERS  </strong></p><p>Thank you to the mining services businesses that make this content possible:  </p><p>• <a href="https://www.rocktechnology.sandvik/en/products/ground-support/">⁠⁠⁠⁠⁠⁠⁠<strong>Sandvik Ground Support</strong>⁠⁠⁠⁠⁠⁠⁠⁠</a> – The only ground supportyou’ll ever need</p><p>• <a href="https://www.titanrecruitment.com.au/contact">⁠⁠⁠⁠⁠⁠⁠<strong>Titan Recruitment</strong>⁠⁠⁠⁠⁠⁠⁠</a> – Specialists in engineering and technology recruitment</p><p>• <a href="https://marketech.com.au/focus?utm_source=partnerships&utm_campaign=mom">⁠⁠⁠⁠⁠⁠⁠<strong>Focus by Marketech</strong>⁠⁠⁠⁠⁠⁠⁠</a> – All your mining news and market needs in one powerful platform | <a href="https://marketech.com.au/focus?utm_source=partnerships&utm_campaign=mom">⁠⁠⁠⁠⁠⁠⁠10-day free trial⁠⁠⁠⁠⁠⁠⁠</a></p><p>• <a href="https://www.intralinks.com/">⁠⁠⁠⁠⁠⁠⁠<strong>SS&amp;C Intralinks</strong>⁠⁠⁠⁠⁠⁠⁠</a> – Powering deals with unmatched security and efficiency</p><p>• <a href="https://www.exceedcapital.com.au/sp-property-trust">⁠⁠⁠⁠⁠⁠⁠<strong>Exceed Capital</strong>⁠⁠⁠⁠⁠⁠⁠</a> – Diversify your portfolio with Exceed’s property trusts</p><p><strong>……………  </strong></p><p><strong>  </strong></p><p><strong>FOLLOW &amp; CONNECT </strong></p><p>• YouTube: <a href="htt