Ann: Ore Reserve Upgrade - UPDATED , page-3

The ore reserve keeps getting bigger.

Remember how (must be around 18-24 months ago) when China found a big reserve in China (so they claimed - but it was too deep & poor grade) & it coincided with the pricing of iron ore. They were using it as a bargining tool.

The ink isn't even on the parchment, let alone dry & this is starting to happen, just the tip of the iceberg....


China will play hardball over Oakajee project, Barnett warns

by: Andrew Burrell
From:The Australian
November 16, 201112:00AM

WEST Australian Premier Colin Barnett says China will play "hardball" over saving the $5.9 billion Oakajee port and rail project in the state's Mid-West iron ore region, but he remains hopeful the troubled development will proceed.

Mr Barnett was responding to a report in The Australian yesterday that China's $US400bn ($393bn) sovereign wealth fund, China Investment Corporation, is reviewing whether Beijing should step in to rescue the planned project or walk away from the region altogether.

http://www.theaustralian.com.au/business/mining-energy/china-will-play-hardball-over-oakajee-project-barnett-warns/story-e6frg9df-1226196072381


Imagine when they get this project under their belt the fun BHP,RIO & Vale et al will have in pricing iron ore at a premium. I can hear the discussion....Well we don't really need that much ore but if you want to sell it to us at $90/ton..... sorry did I say $90, I meant $80 per ton..... oopps my bad english, I meant $70 per ton & we will take it off your hands.


M