sorry, you are kidding me, right. All Australian iron ore miners are printing money like hell. Fortescue is making 50 MUSD per day. you wrote, a pellet plant is too expensive for them?! I totally disagree. FMG defintely should think about vertical integration and building a pellet plant and or a HBI plant based on magnetite ore. They can build it together with a steel company, so together with a customer. Maybe using hydrogene as a fuel. Magnetite iron ore is superb for this. This would also improve environmental issues at Port Hedland. Iron concentrate is a powder and the wind can blow it is elsewhere. If it is transfered to pellets, there are less problems with dusty wind at the port.
So, taking some profit for having a larger vertical integration is a good idea. Do not build it in Malaysia!
Mike
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