large volumes vs announcments, page-3

OK, here is my more serious post to answering the above quote:



Partial June 5th Press release

Rio Tinto and BHP Billiton announce West Australian Iron Ore Production Joint Venture
5 June 2009

Rio Tinto and BHP Billiton today signed a non-binding agreement to establish a production joint venture covering the entirety of both companies�f Western Australian iron ore assets. The joint venture will encompass all current and future Western Australian iron ore assets and liabilities and will be owned 50:50 by BHP Billiton and Rio Tinto.

The joint venture is expected to unlock significant value from the companies�f overlapping, world-class resources. Both companies believe the net present value of these unique production and development synergies will be in excess of US$10 billion (100 per cent basis). These substantial synergies are anticipated to come from:



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