china to invest $500 billions in 5 years, page-35

A high cost low grade magnetite project will not be able to secure finance unless there is another sustained IO boom of $170/t. A project like Roy Hill costing $9B for 55mta is getting up. If our JV partners are in the league of GlenStrata, Jindal and Posco working as a consortium, it would be very manageable. The production cost/t would be much cheaper than the pilbara in the critical DSO phase 1 of the project.