Nmdc originally paid 8c per share so are down substantially on their investment. They are a large company in their own right and don't need outside help to develop Mt Bevan so a takeover just doesn't make sense. Nor does RIO buying a large magnetite project requiring a large capital outlay to begin production. Why not just buy Cliffs nearby DSO project if they want a Yilgarn IO project?
market heavyweight RIO TINTO and LCY, page-38
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