aaragon writes: 'No offence, but if the Fe is below 56%, who cares how much they have, it's not profitable to mine.'
The grades are expected to be lower than that, in the 30's or 20's, however this is normal for magnetite orebodies according to my limited knowledge. I suspect the real value will be the Vanadium, this stuff is worth $60 US/kg, I have no idea of how many g/kgs/tonne vanadium is to be expected in this location though.
market has no idea how to value it, page-10
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