Of course, 51 should read 5.1, thus I should have said 0.54 x 5.1(the specific gravity of pure magnetite) = 2.754. The result is the same as I had adjusted the decimal point in the estimate, i.e. that this factor would reduce Metalguru’s estimate to 2,004,912,000 tonnes of pure magnetite, potentially capable of producing over a billion tonnes of iron.
tonnage, page-3
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