Did Hohnen expect anything else from Rio ?? just CEO rhetoric as he definately knew they would block this.
Rio has a strategy and will play their hand at the right time, albeit they now probably wish they acted earlier -the GFC did cloud the skies and the Alcan aqu'n was a show stopper (dog)!!
Notwithstanding, they are in a very strong position still - there could even be deals involving Epangelo who knows ? it is a very big deposit capable of two mining operations - north and south.
I think the Namibian Government has sent a very clear message that they will not "nationalise" mining. Extract is in no doubt. However their policy is not at all different from doing business in the Middle East and the most of Asia (Saudi Aramco, Petronas Cagali - the list goes on and on), everything is negotiable. It does not take away the inherent value of this deposit - the main reason that this is attracting so much attention and speculation.
EXT Price at posting:
$7.40 Sentiment: Buy Disclosure: Held
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