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31.5¢ magnetite mines limited.

Understanding the demand for Green Steel, page-10

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edglim

445 Posts.

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06/04/22

13:19

Post #: 60686912
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Originally posted by luvkakuwadu: ↑

There is a really good article about hematite vs magnetite in Eames's whitepaper .Why we need Magnetite’s high-grade iron ore - and heaps of it - to turn the steel industry green - *.

So in summary:
1) Expensive: You can use hematite as a blend and via processing extract the higher grade ore HOWEVER they will end up using more energy this way so not ideal for their carbon footprint and it is bloody expensive. It talks about how BHP and RIO lost billions trying.

On the flipside the previous article that I posted re: the guys in SWEDEN creating "sponge ore", I ma not sure if that was done via hemetite vs magnetite. I just assumed it is MAGNETITE but i know that you can produce sponge ore from HEMATITE too. Did they succeed where BHP/RIO failed? Dont know.

2): Declining supply of high grade hematite: After decades of mining, it is expected that hematite will deplete by 2050 whilst magnetite is abundant so that is definitely a factor too

In conclusion, I understand why high grade ore is required but I want to know if hematite is in that picture because to me, THAT will be the difference between a 30 cents MGT vs a $2 MGT.

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This one is also a good read. Stumbled across it ages ago.

https://arxiv.org/pdf/2201.13356.pdf

MGT Price at posting: 3.3¢ Sentiment: None Disclosure: Held
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