Nah, it's not material. Read analyst reports to find out what value everyone thought Simandou was worth to RIO.
And look, I'm just a layman with Google by my side but even I can see it's not going to impact iron ore prices one iota. The seaborne iron ore market is over 1,000 million tonnes per annum - Simandou might've added 70 million tonnes after at least 3 years from now.
You take out the Pilbara - now we're talking! Google that to see how much of the seaborne market it supplies. :)
simandou concession cancelled, page-3
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