The ferrous jaws must shut.
And we have the perfect monster to do it.
And it’s a moment that has the iron ore market holding its collective breath. The size and richness of the deposit means the start up at Simandou threatens to further tilt the power dynamics in a market already facing an uncertain demand future, and at a time when the top buyer, China, is pushing for greater influence over the world’s most-traded commodity after oil. For years, global iron ore production has been dominated by a small handful of companies: Rio itself, alongside larger rival BHP Group and Brazil’s Vale SA.
