RE:RE:RE:RE:Time for serious business around the corner...
Tinto is by far the lowest cost producer of Iron Ore - they can produce ore for under $30 per ton and so are quite profitable at selling at todays prices ($80 per ton) and even lower. BHP and then Vale are also very low cost producers. They, Vale and BHP control most of the sea born Iron ore trade and it looks like they have decided to protect their market share and controling position. The higher cost producer are now starting to feel the pain and will have to cut production. IMO - The big 3 engineered this price drop and know exactly what they are doing.
Be it Iron ore, copper or whatever, Tinto has always said that it will only develop mines that fit its strategy of being world class and low cost. Phase 2 at OT will get developed when Tinto is reasonably certain that it will fit in this game plan.
The DONKS need to figure this out.
JMO As the games continue.