FMG were never looking for another grade to blend with VALE.
VALE's ore is high grade, 65%+, but high impurity (alumina from memory which some of the mills have an issue with) and FMG's is lower grade but very low impurities.
The proposal was to blend the two to a slightly lower (but still relatively high) grade with low impurities to attract buying from more steel mills. Ultimately it didn't happen.
Ann: Media Release FY18 Results, page-12
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