Rio say they are currently evaluating some prospective targets in the Pilbara but most will not proceed to acquisition as Rio intends to be 'disciplined'. I take this as meaning they don't intend to pay a high premium for any acquisition.
This keeps Atlas in play as far as I'm concerned as they intend to be exporting 12Mt of ore per annum within 2-4 years and even at $2bn will pay for itself in 2-3 years.
IOH is attractive I agree but I bet Rio wants it at under $1.00 per tonne of resources as they will have to build spur lines to access the ore.
Rio say they are currently evaluating some prospective targets...
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