Ann: TNG signs strategic HoA with BBI Group, page-255

The way I read it is that ratio is closer to 3.333.
3Mtpa mined produces 0.9Mtpa concentrate

Year 1-4 - ore feed 3Mt pa
The TIVAN® process plant will have a design feed capacity of 900,000 tonnes of magnetite concentrate per year and is proposed to expand to a maximum capacity of 1,800,000 tonnes in production Year 5.
http://www.tngltd.com.au/projects/mount_peake_fe_v_ti/2015_definative_feasibility_study.phtml

One of the major operational costs as you point out is going to be energy consumption. The MOU with CCE will inevitably capitalize on the decreasing cost per kWh (June 15 2.155 c/kWh in the US) of solar power generation to run the banks of Electrostatic & WHIMS machines which will no doubt chew a lot of this power.
https://cleantechnica.com/2018/06/1...-155-cents-per-kwh-400-mwh-of-energy-storage/

The links from the site below are from a company owned by Downer who have committed $50M to the project finance make up with the provision of a camp. They would be doing a disservice to their own shareholders making a commitment of this magnitude without first undertaking their own due diligence to make sure the company can pay them back - ie that TNG with TIVAN will have a profitable ongoing concern to do so.
https://mineraltechnologies.com/pro...ent-design-selection/electrostatic-separation
https://mineraltechnologies.com/process-solutions/equipment-design-selection/magnetic-separation