Reality is based on Fridays announcements the only thing special is the tax status of the SEZ as all the company has done is split the mining and ore refinement Capex. As far as I am aware no company is simply intending to dig up raw ore for export without any refinement. So $230 mil put into the SEZ is just the refining operation and in reality that figure will be higher with additional contingencies and start up costs. Then if you actually add in some real value adding processing such as producing spherical the SEZ capital required is likely to be north of $300mil.
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- Ann: Agreement with Tanzanian Government to progress Nachu
Ann: Agreement with Tanzanian Government to progress Nachu, page-202
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