IRD (ASX) Haematite V's Magnetite

Originally posted by hummms ↑

OK Lion and Aussie Jo,
As you deeply understand the IO industry I am surprised you don't know the importance of the pesky - sign in front of the L.O.I figure for IRD magnetite. Kind of sums up the worth of your opinions. The IRD has a - 2.3 attached to LOI which means it gains weight and needs less fuel inputs to produce steel in the furnace. As Haematite has a + infront of the specifications it computes to a positive spread of 6% ++ when Magnetite is used to charge the furnace.
Most ore mined in China is Magnetite. They understand it.

I first got interested in IRD some years ago after a HC poster called Hotrock 1 put up some information. I fortunately copied some of the information to my computer because HC does not have a history option further back than 3 years. Below is his opinion (and now mine)

What makes you think that magnetite is less desirable with end users?

Magnetite demand and consumption is running around 50% of the total Iron Ore production worldwide. Australia only exports 4% of the world demand for Magnetite... think about it, yet it has massive magnetite resources, especially in South Australia. The future is in Magnetite.

There has been a shift towards magnetite usage and it is growing rapidly. The tables have turned and Magnetite demand will grow well into the future at the expense of Hematite.
Why is this so?

High grade Haematite production is on the decline rapidly and the Lower grades are now being dug up to make up the orders for DSO ..just look at FMG grades...circa 56%

Magnetite has an inherently higher Fe content:
the molecule is Fe3O4 .. 3 Iron atoms with 4 oxygen hanging off it.
Hematite has a molecular formula of Fe2O3 ..2 Iron atoms with 3 Oxygen hanging off it.

Lion. That's enough for now. Every time you express an opinion I will rebut with more from my files

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Great post Humms - now just wait for Lion to post the same response he always does "Magnetite is more expensive than DSO. Forget all the stats and figures they aren't important. It will never get up"

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Last 6.0¢		Change 0.000(0.00%)		Mkt cap ! $54.92M

Great post Humms - now just wait for Lion to post the same...

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