From Reuters' interview with MMK's CEO Boris Dubrovsky on 21/03/2012:
"The Flinders acquisition also means that developing the Prioskolsky iron ore deposit in Russia is no longer urgent." (Prioskolsky iron ore deposit ~2 Billion Tonnes)
"Today, Flinders will be the priority," he said.
This is only 2 weeks ago, I'm sure MMK's CEO don't just change his mind 2 weeks later.
And Nov Last Year:
"MMK is seeking to increase its iron ore mining operations in order to secure supplies and hedge against rising prices"
"Currently, it sources about 30 percent of its iron ore demand at its own mines, according to analysts."
70% from other sources - That's why they want FMS!
Regards
Frank
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