The last I checked fuel prices in Baja are still about half of the prices in Brazil and Australia, so if this part of an article from a couple days ago is correct, CWRN could sell ore at $100/ton and still make a killing..

So far this year the iron ore price has held up relatively well against all the predictions of oversupply.

"Last week benchmark CFR import price of 62% iron ore fines at China's Tianjin continuing to hover around the $130 a tonne.

The raw material peaked in February 2011 at a price of $192 a tonne and in September last year fell to a three-year lows of $87.50.

With the exception of FMG which only entered the game in the middle of the last decade, for the big exporters $130 provides a very comfortable margin, given costs of production for these giants of between $40 – $50 a tonne."