Ann: Mining Convention Signed for the Belinga Iron Ore Project, page-9

Piggy still missing,

So random unimportant facts.

• FMG has a 72% interest in the project, financing 80% i assume
• Previously rights were owned by China MEC, lapsed, BHP nearly had a go
• High C1 costs to start with, until more automation is in place, I assume
• Long term may include hydroelectric dams to power the site (and produce H2) Full project cost around $3billion including rail
• Serious environmental concerns ( Belinga iron ore deposit is situated right within **on's Ivindo National Park, a rainforest home to forest elephants, western lowland gorillas and chimpanzees.)
• Sailing to China:

1. Port Hedland: 12 days
2. **on: 36 days
3. Brazil: 44 days

• Estimated at 30mt per annum once fully running.
• Medium to high grade: Probably in the 400mt range