“That’s fantasy land – it simply can’t happen.” Rio Tinto CEO Sam Walsh in a February 12 Bloomberg TV interview, when asked if the iron ore price could reach $US30 a tonne.

“The Australians don’t know what to do anymore. They are putting even the kangaroos for sale. And the iron ore price is not going anywhere at this point. And they are expected to manipulate their currency and the situation has started to smell bad over there.” Cliffs Natural Resources CEO Lourenco Goncalves on February 4.

“Look, these people, when they came into the market didn’t phone me up and say, ‘jump for joy, I’m going to bring on some high-cost production’. So I don’t feel any, any responsibility for them.” Sam Walsh, February 15.

“Wouldn’t life be a boring place if it was just BHP, Rio and FMG?” Former Atlas Iron boss Ken Brinsden, March 12.

“Until [the majors] can be grownups and come to the table and perhaps even cut production, the bad times will continue.” Bloomberg Intelligence global head of metals and mining research Ken Hoffman, March 23.

"Our intention is we won’t be one of the ones coming out of the market." BC Iron MD Morgan Ball, March 24.

"I’m happy to put that challenge out there – let’s cap our production right here and start acting like grown-ups.” FMG chairman Andrew Forrest, March 24, in Shanghai.

“In deciding not to take further action on the comments that have been made, the ACCC has taken into account Fortescue’s position that Mr Forrest’s comments were made ‘off-the-cuff’ in response to audience questions, were hypothetical and intended to encourage a policy debate about the long-term future of the iron ore industry.” ACCC chairman Rod Sims, April 30, in response to Forrest’s comments.

“I know there’s a lot of controversy in the iron ore market, but a lot of the late entries into the market that have taken advantage of higher prices, they’re now feeling the impact of that as prices have come down. This is rational, normal economics.” Sam Walsh, April 16.

“The current state of the industry has been a disaster for everyone. It’s ripped the heart out of the industry … it’s ripped the heart out of the country. There’s no winners in this, only losers.” FMG CEO Nev Power, April 16.

“Obviously, the price of iron ore is going to have an impact on our budget and we expect our producers to behave collectively in a mature fashion.” Then-Treasurer Joe Hockey, April 23.

 “It’s a bit of a one man against a couple of global giants but I’m after responsibility. You’ve seen other multinationals act responsibly towards Australia, yet you’ve got one London-based multinational that appears to look at Australia as a plaything.” Andrew Forrest, May 5, on ABC’s The Insiders.

“Despite perceptions we are flooding the market with iron ore, we are not flooding the market with iron ore. We have no desire to flood the market. We have no desire to push competitors out of business. So the idea that we’ve flooded, or want to flood the market is complete nonsense.” Rio Tinto chairman Jan du Plessis, May 7.

“We think bulk producers can breathe a sigh of relief as the perfect storm in market conditions passes.” ANZ analysts, May 10.

“Fortescue Metals chairman Andrew Forrest is playing a dangerous game pushing for the federal government to direct his competitors on how to run their mining businesses in Australia,” Minerals Council of Australia CEO Brendan Pearson, May 11.

“Australia now faces the ugly truth that more costly production was allowed into the market during the last decade and that this very production has contributed in a meaningful way to the current oversupply situation. In our view the blame lies with all market participants – not just with Rio Tinto and BHP.” Investec analysts, May 14.

“The last thing anyone would want to do is have a witch hunt against an industry which has been so incredibly important to our success over the last decade or so as a nation.” Then-Prime Minister Tony Abbott, May 18.

“Not all inquiries are bad … but this one is a ridiculous waste of taxpayers’ money on providing a basic economics course on supply and demand.” BHP Billiton CEO Andrew Mackenzie, May 19.

“After discussing the issue with regulatory bodies and stakeholders across the resources sector, the government will not be initiating an inquiry at this time.” Joe Hockey, May 22.

 “It’s a big industry, they’re big players and they can look after themselves and I think to have had an inquiry would have been pointless.” WA Premier Colin Barnett, May 28.

“Five cents is a good price.” David Flanagan, June 25, during the company’s capital raising efforts.

“As this unfolds, the next year or even the next two years or three years could be very painful for those that bet their farm on China. Luckily, we have the ability to separate ourselves from this catastrophe before it is too late and focus on a US market whose worst days are likely behind us.” Lourenco Goncalves, July 29.

“If we can raise capital in a shit market like that, I’d back us, with a business that’s running like this, to have all of the options available to us that we should have and shareholders should see our ability to refinance, repay, do whatever, as a real catalyst of value for the business.” David Flanagan, October 22.

“I think that Australia will only believe that China is destroying Australia when they build an artificial island on the Great Barrier Reef that they can see from the shore.” Lourenco Goncalves, October 28.

“If I woke up and had someone hit me with a cricket bat every morning for the next four weeks, it would still be easier than May was.” Atlas Iron MD David Flanagan at the company’s AGM, October 29.

“Despite the many media critics and their relentless negativity, we have now loaded a ship of Roy Hill low-phosphorous ore, the next step in the exciting story of the Roy Hill project.” Gina Rinehart, December 9.

“There are a lot of producers that we believed would leave the market that are hanging on by their fingernails.” Sam Walsh on Bloomberg Television, December 14.