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Rio Tinto (RIO) looks likely to pursue a $5B expansion of its iron ore output in Australia that...

Rio Tinto (RIO) looks likely to pursue a $5B expansion of its iron ore output in Australia that would increase annual production to 360M metric tons from 290M unless there are significant changes to the global demand-supply situation. Shareholder feedback on whether or not to go ahead with the project has been mixed, based on the potential impact on prices. RIO +1.6% premarket.
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Comments (2)
  • TwistTie
    , contributor
    Comments (2476) | Send Message
     
    Yesterday, I received the annual report for ANW.

     

    In his letter, the CFO states that marine petroleum use for dry bulk and container shipping is at an all time high.

     

    He also states that iron ore shipments are at an all time high.

     

    So, with that backdrop, and with the central banks going crazy, and with the miners pulling in their horns to get profitable/competitive, what eventually happens to commodity prices?
    7 May 2013, 11:22 AM Reply Like
  • Pgloria
    , contributor
    Comment (1) | Send Message
     
    NMTR (nothing much to report) except that being Aussie i'm observe RIO from close quarters.
    8 May 2013, 09:21 PM Reply Like
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