FMG 1.20% $21.41 fortescue ltd

Rio using IOP to gain FIRB Glencore blocking ?

  1. 10,494 Posts.
    A buddy of mine just asked me to think hard about the following. I still havn't made up my mind but he may possibly have a point.

    If he is right, then Iron Ore price could progressively rise over the coming months (in a 2 steps forward 1 step back manner to not infuriate the Chinese - who already may know what's around the corner).

    While Hockey (on MARCH 25th) said he is not very supportive of cartel activities, he was so concerned about the IO Price he had a meeting with RIO executives (presumably Walsh). So (if Australia is now on negative watch for her AAA credit rating and deficit ballooning to $50 billion and rising and Abbott breaking every election promise and the Coalition facing Regime Change), does anyone suppose he was simply going to congratulate Walsh for a job well done in destroying the nation's finances and transferring Australia's national wealth to communist China....Or did Mr Walsh have something to trade ?

    ....."Mr Hockey, who had a rescheduled meeting with Rio Tinto executives on Wednesday, said he was very concerned at the decline in the iron ore price and its impact on revenue".........

    http://www.copyright link/business/...over-call-for-iron-ore-cartel-20150325-1m768l

    And then this BOMBSHELL !

    http://www.copyright link/business/...y-to-glencorerio-tinto-merger-20150408-1mggda

    ...."Mr Hockey met with a small group mining industry and business figures on March 30, including representatives from Australia's biggest miners, the Minerals Council of Australia and the Business Council of Australia. The Australian Financial Review understands from multiple sources that Mr Hockey said there was "no way" he would allow a Glencore take over of Rio "on my watch". .....
 
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