bhp ferrous imply mmx @ $2.055b or $4.6/share

Brazilian Ferrous: 4.6 Bt @ 33% Fe = approx. 1.52 Billion tonnes of Fe --> BHP will pay $6 billion = $3.94 per tonne.

Ferrous also needs to build own rail and port.


Accroding to MMX annual report, JHEP has 3.234 Bt @ 32.3% Fe = approx 1.044 tonnes of fe.

@ $3.94 per tonne x 1.044 = $4.11 Billion * 50% = $2.055

or $4.6 - $4.7 per share