The obligation to generate value
The obligation to generate value. There's been a lot of press recently regarding the expansion projects for BHP and RIO against a backdrop of low iron ore prices and weak demand. It's not hard to figure out why they're doing it as they have high quality resources, well established infrastructure and the lowest industry costs globally. At the end of the day the majors are exercising their right to exploit the best resources in the industry with a view to creating shareholder value, perhaps at the expense of short term price volatility. More on the Morgans Blog: (VIEW LINK)
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