Every mine has a lifespan, you need to replenish resources. What better way to GROW your business by adding more resources which are of a higher grade. Why diversify if you have already mastered the way in efficiently producing an ESSENTIAL product like Iron ore. Higher grade, lesser cost, more product mix, and Market Dominance in an ever growing society. Demand is not only based on expanding or what analysts call slowing growth. One other factor they don’t tell you is MAINTENANCE, and the time will come when you will have to replace OLD steel projects; giving a compounding effect on demand. All imo.
News: FMG Australia's Fortescue says it has submitted bid to develop Guinea iron ore, page-3
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