You need to take into account that all shipment are now FOB.
ie we don't pay once it goes on to the ship.
Thats about 20 to 30 US. So in effect we are getting around 130 to 140 US/t .
thats approx 1.5mill per shipment profit after paying 30% to our partners as we still have not shipped 1mt, but it will go to 2.1mill per shipment at 110US very soon. They are ramping up so expect to see profits on the increase.
Ann: C4 Iron Ore Mine Back in Full Production, page-10
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