1 ) there is a premium for magnetite over heamatite
2) there is a further premium for pelletised magnetite
3) magnetite is increasingly preferred due to its better energy profile and lower impurities
4) most of the energy ( Bond Work) required to produce the magnetite would already have been used for Sn production ie the grind size used allows for magnetic separation from a water based slurry. Therefore a greater profit margin on the magnetite component
and finally ( for now) Grange Resources - recently reported that while iron ore prices sat at $60 a ton they received a premium of $20-30 US . They pelletise.