As far as I know, Constance Range is an old BHP project. The jv...

As far as I know, Constance Range is an old BHP project. The jv is not with BHP but with West Perth property fund manager WRF Securities, who originally picked up the property. Anyway, 50% Fe as hematite is not an issue - CVRD is the world's biggest producer of iron concentrates for pellet production, and it is hematitic with the ore running at about the same grade. The issue is cost of mining, beneficiation and transportation. The west coast magnetite wannabees have a very hard ore and much lower grade compared to Constance Range so we can expect lower extraction and processing costs for the latter. As for transportation - that is interesting issue for all in the iron ore business.