Thanks for sharing your research Jack - however that study is old news.

It is very likely that PYR torches are significantly more energy efficient than the Westinghouse torches used in that study; therefore, the fuel cost comparisons are likely inappropriate, and the PYR offerings might actually be an even more attractive offering.

What PYR is doing right now - quantifying the additional benefits of using torches as induration heaters - will certainly add to the benefit/cost ratio. Additional benefits are likely a more thermally efficient drying process and/or increased rate of production via a thicker pellet bed. The most compelling argument are most likely carbon emission savings in light of rising carbon taxes, and steelmaker's willingness-to-pay for low-carbon emission products.

Low-carbon iron ore pellets will likely command a higher price over more environmentally damaging products, especially in the years to come.