Instead of using the iron ore to produce steel, they use it...

Instead of using the iron ore to produce steel, they use it reduce some of the coal ash content of the coal and therefore improving the quality of the coal and lowering the GHG emissions from the coal plant. AHN believe they would get a higher price for this coal wash media product than what they could get by exporting it for the steel industry.

That may be down to a premium being applied by the steel industry but not enough to validate the coal wash pricing, as there aren't many steel mills set up for that concentration of FE so they would buy the cheaper 62% product in most cases as I don't think the premium wanted for a 70% product provides the same economic return for them. Its why my initial thought around this was Shine. Shine is a smaller size resource (29mt at Byro and 15mt at Shine) and could be perfect for each other as a blended resource. The Shine product is lower in FE content but with a high silica content, the Byro resource is very high in FE but also very low in Silica (around 1% compared to Shines 9-10%). It provides another avenue to market with FEX involved, that they could review a blended operational mix compared to the coal wash option, as you'd think those 2 blended could produce a 62-63% FE product with 4-5% Silica, possibly higher FE content if the mix is on the 65-35 Byro-Shine mix. Maybe a 65% product with 4% silica so a similar product to what they are getting out of IR.