Oink Oink, there is a porky if I have ever seen one!
Care to provide some evidence of your emphatic claim, to paraphrase you " that Simandou will take just 2 - 3 years to pay for itself".
The cap x will be huge & the production costs likely to be very expensive as well. How much jungle do they need to clear, how many mountains do they need to cut open to lay the railway?
How much money is Rio contributing to its 1/4 share before a single kilo of IO is taken out of the ground?
The railway alone is likely to cost $30 -$40b. The deep water port required to take the giant capsizes will be $30b - $40b. This is Africa, not Australia. This is Guinea not GaaBon. Corruption is rife, these costs will be far far greater.
Can you imagine the discussion between the Simandou JV partners and theGuinea gov? Can you please chuck in another $20b each by next weekend? If you don't sorry but we have a company in Russia that wants your mining license and is happy to take over from you, thanks for your money.
Iron ore price, page-47189
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