China will say anything they can to make it look as if they do not need to rely on others for iron ore.
Vale know that the likes of Rio Tinto at Simandou - Sundance Resources and a few others are looking to be producing come 2014/2015. The Chinese are getting involved in West Africa and in Australia at a fast rate in J/V or fully owned projects.
VALE,BHP and RIO are worried about the future as more of the smaller players have found big resources of iron ore.
Regards Westcott.
SDL Price at posting:
33.5¢ Sentiment: None Disclosure: Held
