Spot on WipeOff it's what i always said RIO don't need more ore to expand their operarions it's always been about infrastructure to boost capacity. RIO have made very few aquisitions in the Pilbara over time... why ? because they already have mountains of dirt it's always been strategic moves like North aquisiton to lock in Robe River - purely infrastructure based in 2000.
I guess in fairness though you always can get the black swan appear at anytime & it can never really be completely discounted until it's ink on paper. Unlikely though IMO.
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