Zxc
With the financial world in a very difficult place at the moment, and whilst i would love a counter i think the chances are slim at the moment ...albeit i am hoping.
Mining companies globally are bunkering down, and whilst many of you say these "short term" movements dont affect companies long term vision, take a good look at BHP and their comments of late. Global heads of Mining Companies are very much in a conserative mode.
I think you will see more M & A of exisiting operations then investing billions into new start-ups.
This is a $7b + deal in Africa for Iron Ore. Yes i undertand its more than an Iron Ore play but an infrastrucure play too.
Glencore/Xstrata the obvious choice are entrenched in their merger at the moment so to add a $7b deal takeover i think is not on their radar. Teck seem to be looking at FMG but could be an outside chance...China Mills wont overbid, POSCO seem to have walked away, and this seems too far for the Russians... This is a big transaction and i feel the Chinese always had an eye on it for strategic control of the area...This is the Chinese Pilbara..., and with 20% stake for Hanlong i think China Inc already have a foot in the door.
Time will tell but once NDRC is done the transaction should move ahead quickly.
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