As a rough rule of thumb . . . adding 30% to C1 costs to obtain AIC, all in costs (royalties, depreciation, mine development, etc).
To be conservative . . . using the upper end of guidance of $75 for C1 costs . . .
$75 plus 30% = $97.50
Current IO price $197.55
Less All In Costs $97.50
Profit before tax = $100.05 per tonne.
Being conservative, using lower end of guidance of 3.2 million tonnes . . .
Profit before tax = $320 million.
Iron ore price, page-4
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