Vale posts surprise loss, page-4

old saying in mining
"cant make up for the lack of margin by increasing volume"...
Imagine the large shareholders at Rio (or any for that matter) in agremement with Sam Walsh & Rio Board
ramping up production at lower prices for the product,
This means RIO will face large $ writedowns on resource valuations as they are effectively devaluing
their assets.
Previous Ceo Tom Albenese burnt up huge chuncks of shareholders funds with Alcoa buyout & it seems his successor is doing same with his unfathomable IO strategy...But as usual they leave their posts with humungus severance packages & meanwhile dividend gets slashed & shareholders burnt.
Why do we bother.
GLTA,

S.G