The article was published 10 April '11.
Bob cotton commented on the article at 9:43 PM on the 10th.
Interesting article partly right and partly wrong. Magnetite is the preferred iron mineral of choice for junior iron mineral miners and in most cases is the higher grade of Fe%. In north America, Mexico in particularly, the majority of iron mineral deposits are mixed Fe203 and Fe 304, with the magnetite ranging from 47 to 72% Fe, in most ore bodies. Hematite on the other hand presents a more difficult processing procedure since it is non-magnetic as opposed to simple low cost magnetic scrubbing when processing magnetite.. The cost per metric ton to produce a finished product varies greatly between operators, depending on stripping ratios, location of ore bodies, techniques employed by the operator is usually were the savings is found. The cost per metric ton is also dependent on the production rate as the more tonnage per month, the less the cost. Non-mining cost for most companies, is the highest cost, i.e., Royalty Fee structure (if the operator is not the concession owner), surface and access rights payments to the landowner, heavy haul trucking, port loading cost and shipping cost if the operator is selling on a CFR bases, which now seems to be more prevalent than the FOB you sited in your article. In my observation, there are a lot of new start-up iron mineral miners, and many are finding that it is not as simple as it looks and sounds..
Robert L. Cotton (Bob)
17 years in the iron mineral mining business
President & C.E.O.
Cotton & Western Mining, Inc. (CWRN:PK)
