Magnetite does get a premium over DSO ores, since it has a...

Magnetite does get a premium over DSO ores, since it has a higher iron content than DSO.

China is keen on getting magnetite because it contains less oxygen than DSO, so requires less coke to remove that oxygen. However, its up to the producer to provide the product and (presumably) make a profit for its shareholders. But the energy intensity to get waste of 25% Fe to ore at 68% Fe is quite high, and it requires plenty of water which is lacking at Peak Hill.

If you think this is PDY, all well and good. Enjoy. Build your mine, your processing plant, your power station, your rail, your port and sell it at 50mtpa and make a profit. Piece of p*ss. Surprised everyone isn't doing it.