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| Whereabouts are you from? http://redtube.in.net retube This is significant for Rio. A 10pc move in the price has a $1.6bn impact on net earnings – negative or positive. The outlook is for the price to weaken further. However, Rio has advantages over other producers. Rio’s operations in Pilbara are some of the lowest cost in the world. It costs the group about $50 a tonne to mine from the Pilbara in Western Australia, which means the business remains extremely profitable at the current price. Also, Rio has the advantage that these operations are physically closer to China than other major players such as Vale’s mines in South America. |
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2019-05-31 16:57:03 |
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