Wot, I don't think wot you say is right.
First, the announcement is marked as price sensitive.
Second, I don't think MMK reneged on a contract because they have just secured almost 1 billion tonnes of iron ore*, they reneged on the deal because the other company jacked up the price of their ore, so, in that sense, who reneged on whom?
*MMK won't have access to FMS deposit until a mine is established in 2 to 3 years and, in the meantime, need a continuous supply.
can the deal fall thru?, page-13
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