Ausbiz – How green is the future of iron ore?
There is a growing consensus that low-emissions steel will require large volumes of high-grade iron ore, but Magnetite Mines (MGT) Mark Eames questions where that high-grade ore will come from in the future. He says the best grades of iron ore are actually sourced from lower-grade in situ ore bodies. In other words, sometimes the purest iron ore can be made from relatively low-grade ore bodies that then use processing to separate the higher-grade iron ore and generate higher-grade products. So, can the existing producers shift direction to supply the large volumes of higher-grade ore that appear to be required for lower-emissions steelmaking? Mark says not so fast. Listen for Mark’s view on the future of high-grade iron ore supply and hint: it’s not the Pilbara.
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