Befesa use a very high cost, high energy intensive process where they have to heat the slag to extreme temps (this is from memory as I'm on holiday - on the iPhone).
There process is very high cost, with no room for major cost savings due to the fundamental technique. Increasing power costs make the Befesa process even more costly.
MHM's process is very different, as it is not heat based.
broker report, page-19
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