Twenty years ago, Andrew “Twiggy” Forrest had abandoned his pastoral roots and was plugging away at a modest nickel project in Western Australia. The processing plant used new technology, involving leaching igneous rock with sulfuric acid in huge high-pressure autoclaves, but production delays and a liquidity squeeze saw Anaconda Nickel default on its bonds. Eventually Forrest’s small shareholding was swallowed up by bigger investors.
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