More patience required...A clip from today's qtr 1 Management Discussion info, bolded item a bit disappointing to read
The highlights of the DSO project FS were as follows:
• Production assumption of 4 million tonnes per year (“mtpy”) of Sinter Fines and Super Fines
products.
• Proven and Probable Mineral Reserves of 64.1 million tonnes (“mt”).
• Variable stripping ratio, from mine to mine, with an average of 1.03 over the life of the mines.
• Total initial capital cost of US$ 300 million and working capital of about US$ 13.5 million.
• Internal rate of return of 29% (unleveraged and before corporate taxes and mining taxes).
• Payback of 3 years after the start of commercial production.
• Direct jobs creation of about 200 at the mine, wash plant and administrative areas.
• Anticipated start of commercial production is Q3, 2011.
Updated as at May 20, 2010, the anticipated start of commercial production has been revised to
21 months following Tata Steel’s investment decision.