A 30 year mine life may only be possible if they could mine and find furnaces willing to take the least quality iron ore, of which they have plenty. Something else to keep an eye on is the true state of China. Dateline recently showed entire cities in China that have been built in the past years with very few people actually living in them. Apparantly the central goverment simply orders a set amount of construction to be built, and so it is built, even if there is no demand. in this case almost no one in the countryside can afford the cost of an appartment in these cities. so, how long before we have another Japan on our hands, where japan built 4 lane roads to nowhere in the 1980/90s just because they could. They have spent the past 20 years trying to fix a very stuffed economy.
MMX Price at posting:
$1.06 Sentiment: None Disclosure: Not Held
