Nothing wrong with expressing opinions which creates discussion. And who bought into RIO at the GFC time when RIO was desperate, Chinalco. It was meant to be generalisation and I think overall no one is going to throw money at something that doesn't stack up financially. And there are easier ways of getting security of supply. For the $4B they can buy 25% of FMG at a cheap price and get their hands on 40mtpa production instead of 24Mtpa at CEIP...... Let's go through history too and see most mines the Chinese were involved in developing ended up costing double with long delays.
This just makes little sense from an investment point of view at current iron ore prices, that's all I'm saying.
And creating $4B in debt (and Chinese have deep pockets) is not the issue, it's the returns on your investment and this investment is not going to be successful in my opinion.
IRD Price at posting:
24.5¢ Sentiment: None Disclosure: Not Held
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