Ann: Iron Road Signs Agreements with 5 Chinese Steel Mills, page-5

Where will IRD get the $bns ?
Thought I would trawl the internet.
Shandong group are 7th biggest steel producer in China. 23 m tons p.a.
Shandong is State owned. China needs to get out of yuan before it retreats further.
Just completed 100% ownership of Tonkilli project in Africa ; probably spent $3 bn +
Tonkilli is 60 year minelife and seems to produce 58% Fe Approx beakeven $68 t
IMHO there is a need to blend IRD 72% magnetite from the CEIP 35 year mine with Tonkilli product .
IRD is controlled by Sentient 72%
IRD wants to retreat to 50% ownership.
Sentient probably has the funds after the sell of Andian Gold for $ 3.6 bln
For my money they haven't put a foot wrong in the asset development.
IRD has NO debt. They can stare down Shandong and say if you want the asset you must pay up.