Chinese iron ore concentrates are at 65% - 68% fe and make up the highest quality iron ore used in their blast furnaces. It takes effort to beneficiate (hence high cost) to produce. But we have declared nuclear war on China. Cost is the least of their concerns now.
Simandou construction will now take on a war effort like tempo. The big build started months ago hence it's hiliarious to see idiots in the media still questioning whether it will ever happen since they all parrot one another and not bother to do the most basic of research.
Given it is now war time as Dutton beat the drums and blew the war horns last week, I imagine China will help bank roll Vale's development with iron clad commitment to buy everything they can produce.
Among Pilbara producers, I think FMG will be the one filling the rest of China's demand after India, South Africa, Sierre Leone and Iran. BHP and Rio will get what's left.
Chinese iron ore concentrates are at 65% - 68% fe and make up...
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