... Vale started a 3 year iron expansion project and it funny ..
Vale said that the superduper $19B mine could end up displacing Vale's other higher-cost, less profitable mines.
In the end, there could be no or little net supply onto the market.
Brazil's economy is in even worse shape, they just suffered another massive current account deficit.
Meanwhile China just had a massive trade surplus, compliments of DUMPED precious Australian iron ore from BHP & Rio as well as an oil crash that came out of nowhere (China is the world's largest oil importer for the 1st time).
SDL Price at posting:
3.7¢ Sentiment: Buy Disclosure: Held
