EFE 7.14% 0.8¢ eastern resources limited

Magnetite - a graveyard of failed iron ore mines. If it was so...

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    Magnetite - a graveyard of failed iron ore mines. If it was so compelling why aren't BHP and RIO in the business. Huge capital cost to establish a mine - $16 billion for the Cape Preston mine -but making Clive Palmer rich. Very high production costs -even Iron Bridge cost estimates are high notwithstanding a higher sale value.
    But hey its great news for the environment - no new magnetite mines less energy expended -no new magnetite mines zero new carbon emissions
 
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