Ann: 10km Magnetic Strike at Satrokala Iron Ore Project, page-25

From an insto: "We think its green product is going to be in demand andpreferred in China. Here’s why:

China’s cities are filled with smog and pollution.

Steel making is a major offender in causing air pollution andcarbon emissions.

15% of China’s total greenhouse gas emissions came from itssteel mills.

In order to combatthis, the Chinese government has mandated the steel industry to significantlyreduce its emissions.

China is aiming to achieve “peak carbon” emission by 2030 andbecome “carbon neutral” by 2060.

Globally, to go electric and switch to clean energy, 3.5billion tonnes of steel will be needed over 15 years to build energy grids, wind farms, solar farms, nuclear plants and electric vehicles.

It defeats the purpose if the traditional steel making processreleases loads of carbon.

One way to make green steel is by switching coking coal andblast furnaces with clean energy like hydrogen - a new technology

Bill Gates and Amazon are both backing ventures creatingtechnologies to process iron ore into green steel - steel made with lower or zero carbon emissions.

BHP, RIO, FMG, Vale are all making investments in green steeltoo.

However, the quickest, cheapest way to make greener steel isusing greener iron ore.

Green iron orerequires less energy to be processed into steel.

Green iron ore needs to be:

· High grade orprocessed to higher grades using renewable energy

AND

· Have low impurities(less energy required to process it)

The bulk of iron ore used in China is purchased from BHP, RIOand Vale - it is lower grade and NOT considered “green”.

High grade, low impurities iron ore (like Bekisopa's) typically commands a 30%+ premium to the spot price (Iron Ore 62% FE at Singapore price). But I'm sure TheJerry01 knows this... his post above is irrelevant mudslinging. So at <$50 OPEX you'd currently make a margin of ~$80/tonne. That's a massive pipe to dream about