Ann: Macro Wins Mining Services Contract, page-33

On the beneficiation front, if they’re not planning any wet processing, but at 54% Fe, some form of dry screening or up-front ore sorting might still be needed depending on customer specs and impurities. Most buyers want something closer to 58–60% for DSO unless they’re blending it down. That said, if they’ve got a consistent product and can move volume at the right price, they might get away with minimal processing and lower-cost sales into certain markets. Would be good to get more clarity from Macro on that point, especially around who the end buyer is and whether any penalty pricing kicks in below certain grades.