considering the Chinese just spent US$8 billion plus building the Sino Iron ore project in the Pilbara to produce 28mtpa at cash costs well north of $50/t mark
spending US$2-3b for 20mtpa of premium product at cash costs of US$20/t stacks up pretty well
if the project gets into production it will be at the very bottom of the cost curve, most would call that a Tier 1 asset
considering the Chinese just spent US$8 billion plus building...
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