wa/china support for magnetite

Some additional support for magnetite mining, albeit in an article related to the Padbury mining goings on.

https://au.news.yahoo.com/thewest/a/22645988/new-hope-for-oakajee-port/

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Chinese officials told Mr Barnett they wanted more magnetite to use in more sophisticated and higher-value steelmaking, which consumes less energy and causes less pollution - key objectives of the Chinese Government.

China wants magnetite concentrate production to rise from 8-9 million to 50 million tonnes.

Mr Barnett believes WA could supply more than half the gap.

"I knew the concentrate was a superior product but I didn't know how strategic it was in Chinese planning for increasing the emphasis of their steel industry into these high quality, special steels," Mr Barnett said.
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I know Mr Barnett is spruiking to benefit WA, but if remotely true, it is plausible fo IRD to secure Chinese funding, which has a smaller CapEx estimate than the $6.5b thrown at Oakajee. They don't even have an up to date FS to guide pricing, and i'm pretty sure their OpEx is probably closer to that of Gindalbie (~$90?) making IRD seem like money for jam if its cost estimates are accurate.