rio 75pc increase

Ok getting a little impatient ;)... it would be a good time to announce a major Iron Ore deal on the back of Rio's announcement. Maybe a sling shot effect.............

"RIO Tinto, the world's second-largest mining company, has reported a 75 per cent surge in first-half profits to a record $US3.79 billion ($4.96 billion) as production of copper and iron ore increased amid rising global demand

The group’s profits surged in the six months to June 30, from $2.2 billion a year earlier as the group responded to soaring demand largely from China, and were ahead of market expectations for a $US3.5 billion profit.

Copper and iron ore prices reached records this year, helping miners to post record profits. """"


"""Chief Executive Leigh Clifford, 57, is spending more than $1 billion expanding iron-ore operations to benefit from record prices and surging demand from China, which produces a third of the world's steel. """"