The stated aim of Dattels isn't to squeeze a premium from Rio. He sees the value of the resource, and thought Rio were trying to get in too cheap. He wants an auction to the highest bidder, and with a quality resource of this size, there will be a lot of interest. He's effectively squeezed Rio out from being the only suitor, which is good for holders.
Just because EXT fits beautifully into Rio's plans doesn't mean they are going to get it cheap anymore, they will have to compete for it.
london, page-15
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