I love Twiggy's big green push into Hydrogen and Green Steel. But Green Iron ore still seems elusive because your filling the furnace with magnetite ore that has an enormous carbon footprint from mines like Citic and Gindalbie.
It seems Tucano Gold (the old Beadell Resources) in Northern Brazil are reviving their super green iron ore mill that uses tailings from their gold mill to produce a very high grade green iron ore. When Beadell ran this mill in 2014 their cash cost was only $4/t.
Tucano think the cost to produce a 70% magnetite concentrate is only $10 a tonne and more importantly their carbon footprint is a fraction of the iron ore miners.
Go to 10.30 minutes of this video for a brief summary of this exciting technology that is so simple.
It got me thinking, surely there is a lot of iron ore sitting in gold tailings in WA that could do the same. Isn't this the future of green low cost iron ore as FMG struggles with its magnetite operation while these iron ore rich tailings are sitting there waiting for some love?
If I was Twiggy I would be buying up every gold tailings in WA. Thoughts welcome.
BNW
FMG Price at posting:
$28.40 Sentiment: Buy Disclosure: Not Held
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(20min delay)