The following is out of the book and shows that Phil Thomas is totally right and knows what he is talking about.
The typical grade of iron at which a magnetite-bearing banded iron formation becomes economic is roughly 25% Fe, which can generally yield a 33% to 40% recovery of magnetite by weight, to produce a concentrate grading in excess of 64% Fe by weight. The typical magnetite iron ore concentrate has less than 0.1% phosphorus, 3-7% silica and less than 3% aluminium.
As I said before ADY wil have a good day tomorrow but will be even better in the medium to long term.
good luck
jojo
ADY Price at posting:
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