Was at a function today. A speaker from Platts gave a presentation on iron ore pricing and usage.
He put up a slide with Australian Iron Ore miners costs.
Good ole GBG was there as the second highest. Prices were on a graph rising in $20 increments. GBG was between $100-120. Looked about $105. This figure included royalties and freight.
He also had a slide showing a picture of a pile of Magnetite. In the bottom left it was labelled Karara.
He didnt say Karara ,GBG or KML but just said said this was iron ore produced by a Chinese controlled company.
Interesting point of view.
WE may not go broke but doesnt look like at these costs we will make a lot of profit either. My opinion only.
Cheers
Gmac
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