I've got my doubts the price of Iron Ore has doubled over the last 12 months and more is coming on stream from new sources which will put pressure on the price. Also the W Australian gov is threatening to increase the duty on Iron ore which would affect it's profitability.
I'm also concerned about Oyu Tolgoi mine in Mongolia where exports to China were suspended in Nov due to political issues and these could get worse as Mongolia only has borders with Russia and China making it a hostage to any political issues. Rumor also has it that China wants into the Mongolian mine as China is it's sole customer making it a prime target for political blackmail.
Certain so called experts are pushing the price up on very dubious facts so I'll be cashing in when it hits a high ($65) IMHO.
is rio a buy, page-66
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