to those that hold or looking to buy, page-4

Hi(jovann)

I realise labour costs are cheaper in India but we are talking about plant/equipment not labour cost.

Look at a plan of a benefication set up for Magnetite and you will see what I am talking about.
Cost of building a plant may be cheaper in India that is why I put a low of $500 million.They will need a fair bit more than 1 billion tonnes to make it worth while.
One billion tonnes will only give you around 3 to 400 million tonnes of concentrate.Depending on grade and impurities.
You would be hard pushed to be using 20 tonne trucks like what was shown in one of the pictures to transport the ore to port.

Regards
Westcott.