Today's announcement by RIO of an $8bn iron ore expansion, is one in the eye for those who constantly talk the iron ore story down.
In effect, those people are betting against decisions by Blackrock, who own 5% of FMG, and RIO's expansion.
Both of those are absolute monsters in their respective fields, and have not got to be that way by making a lot of mistakes.
I'll stick with Blackrock and RIO's thinking.
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