Glassenberg would know full well Vale S11D is coming on line, by 2018 there will be well over another 100 million tonnes coming into production.
He is playing his own agenda and should not be relied on as providing any sort of sensible comment re production volumes.
As for "best possible price" well that is easily satisfied by selling into a spot market, the ultimate definition of the 'best' price or 'market' price that there is.
That provision was placed into the Act to ensure a company didn't sell the ore below the 'market' or 'best' price to an affiliated party offshore, then on-sell it to someone else at a higher rate thus denying the State the full amount of royalties.
FMG Price at posting:
$1.94 Sentiment: Sell Disclosure: Not Held
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