By shifting to higher grade ore ....mills can produce more steel for the same amount of emissions than with lower grade ore. Important that MacArthur brand
GREEN right out of the gate..
.."The government is forcing the closure of less efficient steel mills for environmental reasons and new mills are taking their place that must comply with a lower slag value index. Magnetite is the answer because it has very few deleterious elements, particularly sulphur, and it also produces its own heat in the smelter. It burns less coking coal than the conventional hematite ores.
https://www.mining-journal.com/bulks/resourcestocks/1375299/macarthurs-high-grade-iron-project-set-to-rollWe are looking very
GREEN. Sweden is now moving forward with no coal used to make steel. With the Magnetite having an extra Oxygen molecule, China or "whoever" purchases our Fe ore can as well.
End Result..
Looks good to the upside, and the update continues to show very slow but good progress on route to market on key elements. Early cash from hemitite would be a positive and they need to address water availability and permiting soon before it becomes an issue that could hold up mine ops.
They have to drill for water for the ore benefication ops - not a case of having it near bye and available - thats why they should do it before its a problem - but perhaps they know enough about the local area under ground water supply that it isnt a big risk - we will see soon enough.
Thankyou to Mr O'Grady for the above info.
