What is the limit?, page-36

It seems believers are oblivious to reality. As a rough example have a look at the costs of Grange (GRR), been around for years and their costs are around $100/t. Granted it is different (every mine is different) to CEIP (but you get the gist as its a magnetite mine and requires processing and that's what drives costs up significantly) but I can say confidently that there is little chance IRD will ever get their total costs below $60/t in Australia on a magnetite mine (and that will make it marginal). That's total all in sustaining costs.

If they prove me wrong I'll apologise to all