The world is a flush with phosphorous free iron ore, like SDL.
KFE ore is second rate oolite with high phosphorous. It is expensive to process and similar Indian plants are closing down in large numbers. It is an environmentally unfriendly produced steel product. Meaning no financier will take the risk, particularly with changing legislation. Similarly KFE doesnt have coal. So no production in the next 6 years.
If this Chinese discovery of iron ore (which is in commercial quantity) is clean, say goodbye to Kogi not just in the next 5 year but for 20 years. Someone should take the effort to get feedback on this Cross River State iron ore.
Dr Fayemer is in Perth next week. I'll have a beer or 6 with him.
Chinese competition, page-3
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