"Joel you just prooved you know jack all, RIO do have a magnetite operation in canada. So there goes your brilliant well thought out theory.
And GBG's (magnetite) stripping ratio is less than MMX(haemetite)
heres a post from riddick
MMX strip ratio = 5:1 GBG strip ratio = 0.5:1
so before you post nonsence make sure you do your research. Im glad i didnt listen to you and bought GBG a couple days ago at 83c, now look at them mwahahahaha" ____________________________
Hi lepanic,
I think joelbaby was talking about having to mine twice as much magnetite ore as hematite ore to provide the same amount of Fe metal, if the in-situ grade of the magnetite is half that of the hematite, (for example the magnetite is 30% Fe and the hematite is 60% Fe). You have to handle twice as many tonnes to get the same amount of Fe, so higher operating costs.
Stripping ratios are something else and basically refer to the number of tonnes of waste rock you need to move to get at each tonne of ore, (waste to ore ratio). This depends upon many factors relating to the style and geometry of the ore deposit. You cannot generalise and say that the ratios for magnetite deposits are any different to hematite deposits apart from in specific cases (such as those you quoted).
Sorry for writing such a dull post. I should get out more.
