You guys are dreaming if you think that nothing changes by having RIO interested. If you read most HC threads everyone was mentioning and hoping RIO. I copied and pasted a part of RIO's announcement today that clearly states what they will do and where the money will be spent.
Rio Tinto to invest a further US$3.4 billion in expansion of iron ore operations in Western Australia 8 February 2012.
Rio Tinto has committed a further US$3.4 billion (Rio Tinto share $2.9 billion) to the major expansion of its Pilbara iron ore operations in Western Australia.
The investment comprises: • US$2.2 billion (Rio Tinto 100 per cent) to extend the life of the Nammuldi iron ore mine. With this funding, the project to increase production capacity in the Pilbara to 283 million tonnes a year (Mt/a) is now fully approved.
• US$1.2 billion (Rio Tinto share US$700 million) for Cape Lambert port and rail early works needed for the proposed capacity expansion to 353 Mt/a. The 353 Mt/a expansion is in final feasibility study, with a final investment decision expected later this year.
I think that clearly explains that they wont be buying FMS in my book.
FMS Price at posting:
28.8¢ Sentiment: None Disclosure: Held
