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LONDON TO A BRICK
Unpalatable truth about Rio's iron ore prospects
It’s easy to overlook worries about prospects for Rio Tinto’s most profitable business: its Pilbara iron ore operations in Western Australia are “the beating heart” of the Anglo/Australian company, as one banker put it.
Iron ore contributes about two-thirds of Rio's earnings and the soaring price of the metal has meant it has spewed out cash in ever-increasing quanties, enabling it to pay out giant-sized dividends. ...
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