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One-trick cow

Leigh Clifford, a former managing director of Rio Tinto, was scathing of smaller, single-focus mining companies, dubbing them “one-trick ponies”, a status which he might be surprised to discover is what Goldman Sachs reckons Rio Tinto has effectively become.

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Iron ore is only a cash cow for Rio if the price remains above US$45/t

What the world’s most aggressive investment bank has to say about the world’s second-biggest mining company is sobering for its shareholders because Goldman Sachs quite likes Rio Tinto but can see “