RE: NML vs ADV Market is skeptical that the taconites will ever be built. The capex required is staggering ($5 billion per project?) with massive new infrastructure that must be financed and permitted. The 800 km pipelines will be the longest slurry pipelines on the planet. Therefore NML only gets credit for its DSO project, which looks like it's going to be good.
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ADV has a modest $1 billion capex project with Chinese funding, existing infrastructure, and an experienced management team. Environmental permitting guidelines already released by the provincial and federal government. There are few obstacles to it coming online in 2015.