MGT General and Off Topic Chat, page-1237

Newbie here but heavily invested in MGT and passionate about it's future so thought i would make a post.

I was reading RIO and BHP expect Simandou iron ore project to be online in 2030. I know others have mentioned in great detail about the projects huge hurdles to overcome. I did some more reading for my own peace of mind and found this great article. Hopefully the link works. My mind was put at ease after reading this again.

Some highlights from analysts in the article:
-$US14 billion to develop a project exporting 60-80 million tonnes initially
-650 KM of rail ways to be developed (deep water port also)
-Japan steel makers tried to reduce reliance on Australian iron ore in 1980s and expanded Brazilian iron ore
-Higher freight costs. Due to location, Vale iron ore would be impacted more so
-3-7 per cent of the market share could be taken up by this project.
-Project hasn't been developed in the past 15 years due to high construction cost, regular outbreaks of ebola virus, political unrest in guinea
-Maximum $8USD iron ore price reduction predicted

https://www.copyright link/companies/mining/china-s-african-iron-ore-adventure-will-be-filler-not-killer-20200903-p55ry7