That's interesting big e. A number of years ago Nev Power approached Vale to do a blending JV whereby FMG would supply lower IO content but importantly far lower silica content ore (furnaces hate silica) and sell a higher value end product to China. It didn't end up happening but was a valid business model.
in my opinion Vale would be regretting that JV didn't go ahead.
Iron ore price, page-20257
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