Sav,BHP & Rio don't really want to take anyone's ore but they...

Sav,

BHP & Rio don't really want to take anyone's ore but they realize that they are going to have to in time. So what they are trying to do is take ore of a high enough grade so that they can blend it into their existing blends easily. Thats why UMC is in such a strong position, as they have a large deposit of high grade Marra mamba that can easily slot into Rio's Pilbara Blend or with BHP's MAC ore. This proven orebody underpins the current sp unless the market changes its view on future IO demand. Then there are the other targets as upside.

What Rio and BHP won't do is take low grade high impurity ore as this is low margin and it won't blend into their main products.