This is what makes people frustrated. People commenting when they haven't been following the project and the milestones. Agreed that in the past magnetite has been less favourable than hematite.
The reason this project will get up and be very successful is the fact that the Chinese government will reduce emissions from major pollutants by 60% by 2020. Steel producers have been told to reduce emissions or close shop.
After Magnetite has been processed at the mine site and shipped as concentrate it produces 108 kg less emissions than per tonne of hematite.
Whilst it may be more expensive it is either this or nothing for the China steel producers. It is so much cleaner than hematite that there is even talk of concessions for Australian magnetite mines under new emission reduction schemes.
The world is changing. Agree or disagree but we will only get cleaner and cleaner (look at the lithium explosion). Magnetite is now here and very attractive for processors who have been told to cut emissions.
IRD Price at posting:
28.5¢ Sentiment: Buy Disclosure: Held
