Not bad reasoning, however I disagree on Rio's long-term Cu...

Not bad reasoning, however I disagree on Rio's long-term Cu prospects. I think they have plenty of exposure...

- Escondida, Chile (JV with BHPB in worlds biggest Cu producer)
- Kennecott Utah ( nearly back to 100% capacity and plenty of expansion potential still (even after 100 years!))
- Oyu Tolgoi, Mongolia (the worlds greatest Cu prospect which started producing last year)
- Resolution, AZ USA (provided they can sort of the land swap issue out with the Native Americans and calm a little bit of antagonist behaviour from Sierra Club and Audabon things should be 'go' there from about 2018).
- La Granja, Peru (project has been going at a snails pace since 2006 or thereabouts, but RT confident it could start producing by 2020).

Not to mention I believe they still have exploration programs in DRC and Chile specifically targeting Cu. Also sniffing around in a couple of FSU countries too. So my only worry is that they don't need Vulcan whatsoever.