1. Anti-competitive.
2. FMG picked up it's lower grade tenements originally as BHP and RIO let them go or didn't want them. Why would they choose to shift down the product quality curve and reduce profits?
3. Regardless of which, with more than 15Bt each of inventory, they don't need to pay someone else to get add lower grade ore to their resource base.
4. Copper is far more attractive. BHP and RIO are long enough iron ore already.
FMG takeover is not happening.
Iron ore price, page-694
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