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[quote=BOBERT,370662]Marrie..where do you dream up this rubbish? "and the good news that china's intention to increase stake SAVED Tinto " China never saved Rio from anything! Rio was NEVER in danger of collapse. Rio bought Alcoa and needed to raise about $US 20 billion. The banks baulked at extending the loan due to the global financial crisis. Chinalco offered to buy an addittional 9% stake in Rio at the absurdly low price of $US19.2 Billion. They were a predator! Not a saviour! BHP had aready offered TWICE what Chinalco was offering in a merger deal but was still refused. Eventually the existing shareholders of Rio injected $US15.2 Billion and BHP paid $US5 billion for some iron deposits which cleared Rio Tintos debt. Chinalco got US$195 Million for doing nothing more than making an offer to double it's existing stake for peanuts! " i beleive china's purchasing volum and the highest credit scores justify that 40% discount is reasonable" The facts are that Japan buys almost as much iron ore as China. India and South Korea also buy substantial amounts. They have all signed contracts at the 33% discounted price with Vale, BHP and RIO. Only China still refuses. It wants a 40% discount which nobody will accept. So now they have to buy iron ore on the spot market at even higher prices because they don't want to lose face and sign contracts. That's why they have arrested the RIO executive on trumped up charges of espionage. They are trying to bully and intimidate RIo, BHP and Vale into giving them a special discount. Give us what we want..or we will arrest your executives and steal your computer files! But never let the facts get in the way of your fairytale story that China saved Rio Marrie. Believe what you want. Obviously I am wasting my time here.[/quote]
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