Iron ore fruitcakes unite!

Thursday 29 October 2026

I almost admire Andrew Forrest today.

Andrew Forrest wants diesel gone from Fortescue’s Pilbara mines by 2028, as the mining magnate lashed US President Donald Trump and Russia’s Vladimir Putin for pushing up the cost of living for Australians.

Speaking at Fortescue’s annual shareholder meeting on Wednesday, Dr Forrest said both Australia’s mining industry and household budgets were prisoner to “fruitcakes” prepared to start wars and other “toxic macho stuff”.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.