AVL under the BFS 55FE will receive at least a 30% discount (this is your killer) to the 62 FE market price. Subject to product optimization etc.
When quoting C1 costs you need to add the rest of the costs so it takes into account all the costs of the business as well via C3 costs.
This then provides a full picture of the AISC per tonne shipped.
Based on your post above it would be over $100 per tonne. So if then you add 30% the market price to make the iron ore profitable would have to be over $130 per tonne or there about.
Some of the costs are offset but the iron ore is not the main game here. We could argue all day but its not going to provide the game changing value you are looking for let alone the increased emissions via trucking by weight 900,000.
The bridge street report I was looking for has been removed from the internet by the looks of it.
(20min delay)