Ann: GRR - Quarterly Report for 3 months ended 31 December 2022, page-31

Here is an interesting little read from a publication by the Australasian Instute of Mining and Metallurgy in Melbourne (link attached). In 2014 they estimated the cost to produce pellets from magnetite was $50 usd per tonne.
If that cost has not gone up over the last 9 years then Grange is losing $33 usd per tonne by operating Port Latta.
Some months ago I posted my own estimate of downstream processing at $55 aud . . . which may have been conservative considering there was a recent increase of $19 aud to C1 costs which the report stated was due to increase in energy costs. (Grange was financial instruments in place for both electricity and diesel but does not so for gas).
Current 65% iron ore price is around $140 usd and the pellet premium is $17 usd.
Using the first pricing example of $50 usd as the cost to produce a tonne of pellets back in 2014 . . . it essentially equates to selling 65% iron ore for $33 usd below market. While other miners are getting $140 usd per tonne, we essentially are getting $103 usd per tonne.
The article that miningnut posted yesterday told of a dismal outlook for pellets.

https://www.ausimm.com/publications/conference-proceedings/iron-ore-2015/magnetite---a-higher-grade-blast-furnace-feed-anditspotential-benefits-for-the-ironmaker/