sundance terminates hanlong agreement, page-45

sdl have missed the iron ore boat. it leaves cape lambert and port headland. thats why china inc bought 9% of RIO. no bank manager in their right mind would approve a loan for this. its the freight differential that makes it so uneconomic. china inc would be better off with another raid.....ie BHP shares listed in Joburg and London. or loaning another $3 billion to ramp up FMG or even GBG. at least this time they wouldn't be buying at the top of the market.