From memory, Grange Resources are in Tasmania and are very small beer compared to FMG. Their products are pellets which FMG doesn't have, and it might be good if FMG could supply a pellet product, but they would probably have better magnetite in the Pilbara (Iron Bridge etc) if they wanted to get into producing pellets than Grange has in Tasmania. And then they could do it at serious scale and enjoy the economies of scale. Grange is too small and too far away in my opinion to compliment their existing business.
Iron Ore Price, page-14756
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