Magnetite - a graveyard of failed iron ore mines. If it was so compelling why aren't BHP and RIO in the business. Huge capital cost to establish a mine - $16 billion for the Cape Preston mine -but making Clive Palmer rich. Very high production costs -even Iron Bridge cost estimates are high notwithstanding a higher sale value. But hey its great news for the environment - no new magnetite mines less energy expended -no new magnetite mines zero new carbon emissions
EFE Price at posting:
1.3¢ Sentiment: None Disclosure: Not Held
