your freight costs have increased three times to what it was, and if China reduces demand for iron ore from Australia, which it has claimed for 3 months it wants to, and buys from brazil, then what. The four mines are high cost producers, like mgt are. Doesnt matter what the grades are, mgt unit price in 63% grade is 54. Thats very high. And the forecast for prices for iron ore in 4 years time is lower than the price today. You can try and spin it, which ever way you want, the project is doomed, at low iron ore prices, reduced demand, and skyhigh freight costs
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