RE: RE: RE: this mine is 4 years out. Saw my first micro-reference to to the Chinese iron ore situation today in an Atlas Copoco testimony.
It talked about (Nangen, I think) iron ore mine, which is apparently one of the largest in China!
From a separate source, I've read that Nangen produces about 5 mt of iron ore concentrate per year - yes this is apparently a BIG iron ore mine in China!
The Atlas Copoco article states that Nangen produces 13 mt of iron ore per year. If the other source I've read (5 mt per year concentrate at Nangen) is correct that means that 5 mt con is produced from 13 mt run-of-mine ore or about 2.6 to 2.7 tonnes of ROM to produce 1 tonne of 66% Fe con. Not so much different than some mines in the Labrador Trough.
But here's the eye-opener - the Atlas Copoco bit states that the Nangen operation moves 88 million tonnes per year to achieve the above results!
That put the waste to ore ratio at about 6:1! Cripes - no wonder they take in so much seaborne fines and con.
BG
BG