what's 3bt+ of iron ore worth i hear you ask?, page-2

Further:

ENRC acquired the outstanding 50% of Bahia Minerals BV from Zamin Resources in Brazil for US$670m (last year). Bahia Minerals had a 1.8bt magnetite iron resource near a railway being built by the Brazilian Govt. This equates to US$1.30/t of resource.

Sphere had 750mt (attributable) resources combined in its El Aouj and Askaf projects, plus 2,700mt at the Lebtheinia project.

All projects were adjacent to existing rail and port infrastructure with open access.