struggle to meet iron ore demand ...

Vale Will Struggle to Meet Iron Ore Demand as Markets Recover

By Helder Marinho

Feb. 11 (Bloomberg) -- Vale SA, the worlds biggest iron- ore producer, said it will struggle to meet demand for the steelmaking raw material this year as Chinas economy expands.

In 2010, Vale faces a tight situation, as even running its iron ore mines and pellet plants at full capacity we will struggle to satisfy client demand, the Rio de Janeiro-based company said late yesterday in a regulatory filing.

Full article at http://www.bloomberg.com/apps/news?pid=20601087&sid=aSuLOeHtGL6k&pos=7

Comment:

It is mind boggling that IFE, which will be in production later this year, is trading at a market cap of just around $55 million.

Could that even be a PE around one - or even less!!!