The burning question here as always is a buyer for the Xstrata stake in Frieda - assuming as most us do that they are set to flick it. It is the one event that will crystallise the value inherent in Frieda.
Clearly BHP would not be at the head of the queue given their history in PNG
RIO are not in acquisition mode at the moment nor likley to be so until the fashion swings around again.
I can think of a few left field possibilities but will leave them there for the moment.
A Chinese player is the most common bet but we tend to forget about these guys - http://www.fcx.com/ir/2013present/NYC_Meeting.pdf
check slide 21 for a bit of perspective - I love their take on the future supply demand picture - slides 27 through 29.
The one sure thing... our stake is worth a lot more than a 45m market cap suggests
valuation, page-5
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