http://news.smh.com.au/business/guinea-mining-concession-cancelled-20080803-3p71.html
I reckon this is massive news. Will probably get worked out fairly quickly for a few more 000's on the end of the government bills but could make the market a bit more bullish on IO prices in the short-term. Expectations have been a little bit more subdued lately over next years raw materials prices but if Rio are actually looking at Simandou being delayed by a chunk then people will start doubting whether a iron ore surplus is really waiting for the market in ~2010/2011.
Might really boost a few more of these smaller guys and as we all agree UMC is near the very top of that list. Or is certainly climbing there fast.
I wouldn't enjoy be the Rio PR guys cause this is gonna be focused on big time till its sorted out.
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