Mineral

Rio Tinto: Striking Hot Iron

Video information

Source: CNBC
Added: 01-31-2012
Tags: hot iron
Description:

park after being cleared out last night and put up their second half we've been seeing quite a bit of volatility, in terms of where the major economies are going to be going. certainly a lot of lenses have been put on china. that translates back into the steel industry. define soft landing, as you see it. i hope to see it staying eight-plus percent in 2012. if it can hold to that level and you can see more money, over the past two weeks we're seeing efforts to actually just provide more liquidity into the chinese system. that's actually positive from our perspective. it's a sign that senior authorities are trying to manage downward the speed of growth, and also manage the inflation. what does that mean for iron ore. you have to manage your costs as it pertains to iron ore. it must be reeking havoc. well, we have an attract -- we're fourth quarter producer, we're working with high margins, and frankly can look at any iron oregon price. for us it's about deliver consistent business and what we've been seeing is while demand has dropped off a bit or supply and -- we're in the increase where we're not seeing cyclones, weather is in our favor, so we've been putting more supply into the weak market. that sent the price down quite a bit last month, again, there are industries doing a lot worse than iron ore in the moment. you're in the middle of a bidding war. tell us about why you're so interested in that company, and what are your thoughts about how much you're willing to play. it's an expiration play in canada. certainly ives to japan twice since fukushima, but as we look at nuclear power post-2020, it's still a business we want to be in. it's more of a long-term exploration play, but again it's got to be something that works for our shareholders, so whatever happens, happens. so i guess the obvious question is, are you willing to go above that at this point? whatever happens, happens. but you're the one who makes the happen happen. i think that would be your choice. you want to give us your framework for thinking about it? we're understand bid, so that limits to what i can say. that's it. what about the what about the slams of uranium prices? the prices have gone done in part, but there have been other forces at play as well, because the price has been coming down a couple years now,

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