Ann: Financial Update, page-135

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22/05/18

13:20

Post #: 33251615
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Originally posted by Stefans ↑

Have you got a proof for your allegations?
I have proof for what I had stated, Vale own statements. Don't be lazy and do a bit of research and find the proof you need.
Vale output from S11D mines (65%Fe)
quadropled last 12 months, but the total ore output has decreased. The pruning occurred around 58% level. Get these figures and post it to support my simple statement.
Platts has very good report on the conference Singapore Iron Week 2018. Future trends in steel raw materials are discussed, recommended reading. Hopefully you may stop misleading others if you bother to read it.
It doesn't take a genius to figure out that if one has two mines and has to close one, the one to go is the less profitable. Vale closed many mines and as it happens 58% ore would have much more impurities than 65%Fe and have market value less than half of the latter. Some impurities are worse than others, but this is a fairly complex issue and I have some doubts about your ability to fully understand it.

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The S11D mine (opening up of new region) was developed for the express purpose of replacing the output from the high impurity low grade mines!

Nothing new there except the spin you wish to put on it!

AGO Price at posting: 3.3¢ Sentiment: Buy Disclosure: Held
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Ann: Financial Update, page-135

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