Just so happens I was looking at Iron Ore exports numbers yesterday. Did not realise India produced numbers at this scale.
What I think is being missed is the potential of India as an end market/net importer as China has been for the past 10-15 years. If India sets out on anywhere near the trajectory China has in terms of economic development at rates of 10% per year, demand for the ingredients needed to build that economy (iron ore) is going to be massive.
From memory - Vale around 340MT RIO around 325-330MT BHP was 281MT last year FMG was around 170MT India around 120MT Roy Hill around 55MT Sino iron around 24MT
BHP, RIO, FMG all have substantial output growth plans & the iron ore has to go somewhere. Good chance that somewhere is factoring in India as a growth market.
I'd add the Salgaocar connection to the Ambani family, IMO, is a positive IMO.
