huh? say what ... Rio is big business and therefore will get their precious little patch back? Doesn't seem to be what I keep hearing ... comments seem to be that because RIO haven't done anything with the Shovelanna licence for the 16 years prior, suggests that they won't get it because the act is structured so that the minister appoints the prospecting licence to the company who demonstrates initiative to use it for mining, and RIO haven't done that whereas CAZ have!
CAZ's QC gave them the confidence of maintaining the licence to the point where they have full scale mining plans in 2-3 years. I can't see how the minister will overide the decision. It will anger too many miners including BHP now.
BHP have already done a deal with CAZ to supply them with 5 million tonnes of iron ore from Shovelanna for a margin of $70-85million per year! So it shows how much confidence BHP has that CAZ will win!
Rio must have a very red face over this because it is blatant incomptetence. They really need to eat humble pie because even by arguing for their patch back they are looking really st#pid. Der ... as if you can expect to hand late homework in and expect a good grade!
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