GRR doesn't sell iron ore.
We sell pellets which trade a 20-25$US premium to 65% IO and 25-35$US premium to 62% IO.
Even at a 70$US/t benchmark "iron ore", we would still get around 100$US/t.
That's 135$AU/t against costs of 100$AU/t.
Essentially, Iron ore would have to go under 50$/t before GRR starts loosing money on operations.
It has spent less than 5 months under that price over the last 10 years.
When the boat comes in???, page-1689
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