Are you saying that with further processing they too could get...

Are you saying that with further processing they too could get an fe grade of 70%

Absolutely and very likely at >26um judging by the very coarse nature of the IRD magnetite ore. There are cost efficiencies and significant material handling advantages relating to a coarser product (and waste stream). No need for a conventional tailings dam, as you mentioned, is one of them. No clays or ultra-fines during processing means easier separation and dewatering of both concentrate and tailings eg. screens replacing filters etc.

The challenges of dealing with ultra-fine Fe conc. should not be underestimated. There is ample evidence from WA magnetite projects indicating what some of the challenges and consequences may be.

All IMO, DYOR