Is Karara now profitable ??, page-42

VA,

But KML spent over $US2.564b plus $AUD1,149b so far on building and modifying the plant - that's the problem. It is the debt which is killing KML and thus GBG.

Citic, Clive Palmers nemesis have spent $12b building their magnetite processing plant, three times over budget.

To produce 1 tonne of magnetite you have to dig out of the ground between 2.5 to 3.0 tonnes to process it. Our Fe competitors dig out 1 tonne and sell 1 tonne.