Sck, RIO is basically an IO miner. Any results for IO miners from July to Dec will be bad because of the dump in IO prices. It is the future to which they will look. Page 1 of Rio's results states:
"This was in the context of lower average market prices in 2012 which reduced underlying earnings by $5.3 billion compared with 2011".
Now IO spot dell to 88/t and is now at $158/t.
we're never going down again, thursday, page-42
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