I hate to be the one to pour cold water on this, but no one is going to finance a high cost magnetite IO process plant. The CAPEX is too high to start with, them the operating costs are going to kill them. Unprofitable business from the outset...
There are enough benchmark projects of this sort in Australia for this to be beyond doubt.
The Chinese already know how much money they have burn't at Sino Iron. They won't do it again...
Sorry guys. IRD is a no go!!
3 of worlds largest banks, page-12
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