Have you noticed how FMG in the 2017 annual report avoids the word goethite. The iron content and the LOI, about 7%, clearly indicate that most of the FMG iron ore reserves are compsed of goethite and some hematite, but they call it consistently hematite. The report also states that the average moisture (free water) content is 9% and not 8% as previously assumed.
Iron ore price, page-3046
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