bhp tips iron ore slide, page-30

Amex (AXZ) has a projected operating cost of around $26/tonne according to their bankable feasibility study. They will be in production within a year.

They have no worries and an off take agreement already with a world top 500 company for 70 % of their production with EOI's for the balance.

For a modest cap-ex they can double production for which they is demand exceeding their supply.

The price of Fe is of little concern for them.

I went to a conference where Saul Eslake, fwiw, expects India, by 2016 to be catching China's growth trajectory.