Agreed. That is the cost of extraction. However I have seen posters say that FMG would be fine at an iron ore price of say USD25 because their cost of production is only USD13. That is not the case. FMG will hurt if the IO prices gets into the 30's.
That said, huge amounts of global production hurts at a price below USD100. So FMG is in a very strong position.
Iron ore price, page-36954
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