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    In basic terms the cost of mining and milling remained the same but the value of each tonne of ore was less because of dilution This resulted in average allin sustaining costs averaging 1760

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    The worlds resources are dominated by lowgrade ore though current world production of iron ore is largely by supply from deposits of highgrade ore composed of either rocks of massive hematite or pisolitic goethite World iron ore production in 2013 was 295 billion tonne with the major producers being China Australia and Brazil