keith de lacey on lateline business, page-9

Hi (Dhuy)

As far as Magnetite and Itabirite go,Two completely different products.
Like comparing GBG Magnetite costing around a billion or so dollars to get end product of around 68 to 70%Fe.And BRM Pisolite and Detrital ore costing around $3 to $4 per tonne to get 59 to 60%Fe.It starts off at 40 to 55%Fe.

SDL Itabirite averages over 40% Fe before benification work to bring it up to Blast Furnace feed grade concentrate of 66%Fe.This is using reverse flotation with a primary grind and limited re-grind.With a finer grind it can provide a Direct Reduction grade concentrate of 68%Fe.
It will still cost SDL a fare bit of money to treat the ore by the time they are ready to ship the Itabirite in about 10 or more years time.

As I think both of us think ArcelorMittal could get involved.I would not be surprised if Ansteel look at it as well.
Have a good week-end Dhuy.

Regards
Westcott.