take over target, page-5

Maybe you could do a little bit more reading in here and the CAZ thread before making sweeping statements, even if your second sentence did firmly wedge both feet in your mouth

In short UMC has high grade, and low cost ore, but the trump card are the low impurities, especially the very low phos. Perfect for blending out the very cheap, good iron, but high phos resources that the big boys have in spades. Which as an aside is why Shovelanna will still be covered in spinifex for years to come.

The other Pilbara central wannabes can only pin their hopes on an access regime, Rio and BHP are never going to find their poor mans resources attractive to purchase for use in their blends.

But Rio has twice transacted to acquire significant resources in the past 10 years. Both were marra mamba.