Why are you comparing RIO and FMG with IRD.
BHP, FMG, RIO are DSO (Direct to Ship) IO.
IRD operating costs are going to be much higher due to the requirement of a processing plant.
Their true operating costs won't be known until much later when they bring this online.
As I've tried to say previously. Low grade magnetite mines are cost prohibitive and run at a loss in Australia.
That's why there won't be any new ones anytime soon...
Why are you comparing RIO and FMG with IRD. BHP, FMG, RIO are...
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