3q'13 financial results, page-30

Here's the section from the FY13 annual report:

"Commissioning of the magnetite Concentrator
commenced in November 2012, nevertheless as at
30 June 2013 the commissioning process had not
advanced sufficiently for the Company to declare
the plant to be in “commercial production”, and
therefore in accordance with Australian Accounting
Standards all commissioning and magnetite operating
costs, net of the proceeds of all sales of magnetite
concentrate since the start of commissioning, have
been capitalised. The reported net loss for the year
from magnetite operations of $22.8 million, primarily
reflects the expense incurred under certain take-or-pay
contractual obligations for electricity and rail charges
for the period between the commencement of these
contracts, and the start of commissioning. A total of
957,000 tonnes of magnetite concentrate was shipped
to customers during the year."