Thanks Prop, I vaguely remembered a pig iron agreement but as it was March 2016 and I have a short memory !!. Pig iron is the first stage of turning ore to steel, the product is ingots of iron as opposed to ore fines so the return should be better. 60 % of output I believe, or better. The Vale price effect will have long gone by the time TNG is up and running, unfortunately.
Ann: Managing Director Company Update, 121 Conference Cape Town, page-60
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