That is exactly right. They were always going to bring on the cheaper mines and phase out the high cost tonnes, but that's not as sensational when you are trying to sell newspapers. They are already underwater financially on their highcost tonnes and losses are growing, so their strategy is perfect to average down their costs and still pump out the same volume. A bit like FMG's blended solution.
Iron Ore Price, page-4629
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$17.73 |
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| Open | High | Low | Value | Volume |
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