Good thing we have two high grade iron projects in the works. We...

Good thing we have two high grade iron projects in the works. We will be the most diversified iron ore miner in the world. 1) Low Grade, easy to mine, very cheap to process, still make decent margins for the Steel Mills. AND 2) Higher grade ore, slightly harder to mine and process (more expensive), higher prices received and very good returns. A good position to be in.
And also lets not forget China cannot afford to just simply ditch lower grade ore at the click of a finger, they wouldn't get enough iron for their steel production! it will take maybe 10 years(around there wild guess) to really start phasing out low grade. Just like oil at the moment, although lithium will be proven to be a more sustainable source of storing energy which will kick petrol cars out of the world, Oil still has some years left in it.