Hi BB,
interesting points you raise.
I think it is in UMC's interest to leave both options open: mine themselves, or get 3rd party involvement.
The ports question is interesting. But as you say - only 1 ship a quarter. I think the 10Mtpa option could only happen post 2012, but the smaller operation could run until then.
10Million Tonnes x $180/t x 60%Fe = A$Large.Stack
Joel
