Good points about the product being less energy intensive from the perspective of the steel mills. Overall, I think it will depend on how much Aussie gas prices are linked to the oil price because there is no doubt magnetite is much more energy intensive overall, from a suppliers perspective. I wouldn't of thought trains use that much fuel, do you have any idea?
Considering we signed deals giving away very cheap LNG to China from the north-west shelf, I would hope a project like this has access to relatively cheap gas supply long term.
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