Post by
nofluff on Aug 26, 2024 5:14pm
Posturing
I do not think it coincidence that Rio is taking the lead in saying they r not going to over pay on new assets. Also, mentioning former executive Tom Albanese, now main ncu man as having boondoggled a majore Rio asset buy a decade ago. They made no mention of how much those assets made them in the last 5 years.
Rio wants the property.
Nf
Comment by
rickwayne1982 on Aug 26, 2024 5:36pm
The bigger the beast, the more(moar) it needs to eat... So they (Rio or other majors) don't have much of a choice but to compete in this bidding process. There are 2 permitted projects in this asset. It takes 7 to 10 years to obtain a mining permit in the USA. Whoever is going to buy this asset is also buying time...which is priceless...