resurgent rio bets on iron , page-14

Rio say they are currently evaluating some prospective targets in the Pilbara but most will not proceed to acquisition as Rio intends to be 'disciplined'. I take this as meaning they don't intend to pay a high premium for any acquisition.

This keeps Atlas in play as far as I'm concerned as they intend to be exporting 12Mt of ore per annum within 2-4 years and even at $2bn will pay for itself in 2-3 years.

IOH is attractive I agree but I bet Rio wants it at under $1.00 per tonne of resources as they will have to build spur lines to access the ore.