Hi GMACH0, there's a more to the story than % grade...The ore is...

Hi GMACH0, there's a more to the story than % grade...

The ore is Magnetite not Hematite...
...most Australian ore is Hematite Fe.

The Magnetite Fe has some special properties that are sought after by steel producers...
...first the obvious is that it is natural magnet...
...this is one reason why it can be beneficiated up to higher grades...
...some impurities are also lower.

Magnetite is used as a 'feed stock'...
...it allows the blast furness to operate at lower temperatures (lower energy costs) and less downtime is requires for descaling.

I hope this clarifies it a bit...
...this is a very valuable resource of a highly sought after commodity.