I understand he is trying to lower the production cost of iron ore
But iron ore is in declining demand - as such the price for iron ore is also declining.
The market for iron ore is not in MIN favour with jhina against import resources such as iron ore from oz.
Lithium on the other hand is in demand and price have continued to increase.
bph is focusing the shift away from iron ore.
MIN should too
The table below shows MIN is too reliance on iron ore
FY21 is from MIN report that i tabulated ---> future years are my own forecast.
All the other arms of MIN is too small compared to iron ore.
That why i have been saying MIN needs to shift away from iron ore and focus more on LIthium
Currently fy21 IO =76% services is 23% lithium is 1%
I am saying lithium needs to be boosted to 27% and services 33% and IO 40% and anything else is just bonus on top.
The number tells the story
I cannot see lithium declining in the next 5-7 yrs cos most of the world new lithium mines will only come into production in 2025-26.
you can have a guess where IO will be with jhina on our back -
My guess is lithium demand will out weight the demand for IO.
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