Decision, page-105

rusty, I'll keep it simple.

Ramu had a capex of $2 billion and they will receive 100% of the nickel spot price.

usually nickel sulphide deposits have a capex of a few hundred million and also receive 100% of spot price.

a DSO operation has a very small capex but receives about 5%-10% of spot, depending on grade.

as the article by Deet stated laterites form at surface. Hence resource speculator saying AVQ can use a shovel while SIR needs to go underground is very misleading as the numbers above show. A proper operation costs billions.