Thanks Noodly for this article.Just so happens I was looking at...

Thanks Noodly for this article.

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.

Just two recent developments re: Mukesh Ambani -


Reliance Overtakes Exxon to Become World’s No. 2 Energy Firm
https://www.bloomberg.com/news/articles/2020-07-25/reliance-overtakes-exxon-to-become-world-s-no-2-energy-company