From memory production and haulage costs were estimated at just over US$80 per tonne, Gll also will take a slice off the top, and then there is shipping costs [which I don't think were included in the estimated costs] . There will not be a lot of profit from this shipment but at least they have eventually started production. They have been unlucky with their sales timing as they always seem to hit the low in the IO price, both here and previously in Peru.
Going forward with a better IO price and the change in shipping ports they could do very well.
Ann: Maiden 68,000 Tonne Shipment of Paulsens East Lump Iron Ore, page-21
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