I believe there is a long way to go with how things pan out with GBG and magnetite. With the recent announcements from China regarding clean coal, what next for iron ore? Could they put restrictions on on shore processing, maybe only order premiem products like magnetite? Not such a crazy idea, if they simply stopped buying hematite and only bought magnetite what would happen? They would destroy the stranglehold of BHP, RIO & Vale who have dictated the prices over a long period of time, furthermore as they largely own the offshore magnetite projects they end up paying themselves so effectively getting the product and the money back, just a thought but a big game changer all the same. Something is brewing for sure as why have they kept pumping money into Citic and Karrara, BHP would have mothballed these by now.
GBG Price at posting:
3.8¢ Sentiment: Hold Disclosure: Held
