"the capex for this project sounds astronomical "
It is, but the premium thay will recieve for the 70% pellets will be astronomical also, the cost per tonne to produce concentrate is A$58.50 in todays market that is a cash cow but who knows in few years from now.
From the report " At almost 70% iron content, Southdown’s concentrate product will be one of the highest grade seaborne iron ore’s in the world."
We produce 65% at Savage river so it starts to make sense any guess what 70% iron would go for in todays market? If they were to produce it
Southdown Project, page-12
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