"....ArcelorMittal produced 37.1 million metric tons of iron ore in the first nine months of 2009. It has iron ore projects in countries including Brazil, Liberia and Senegal...."
If you looked at one of my previous postings, I suspected Arcelormittal is high on the list given it's no stranger to investments in Africa.
Cameroon and Mauritania (in the case of SPH) is at the door step of Europe. It just makes sense to nail something substantial close by and lessen reliance on Vale.
Having said that, Chinese competition will be fierce. (Please fight over SDL !)
In any case, SDL's longer term prospect looks very good.
SDL Price at posting:
14.0¢ Sentiment: Buy Disclosure: Held
