We are both right. The $1.6bn was for 400,000 tonnes as I...

We are both right. The $1.6bn was for 400,000 tonnes as I remember and not for 200,000 tonnes:

http://www.investegate.co.uk/Article.aspx?id=200607281021058824G

"An economic study prepared by CPK Consulting based on the FS results has concluded that the optimum plant capacity is 300,000 tonnes per annum of zinc metal to be produced on site, with a further 100,000 tonnes per annum of zinc metal in concentrates to be sold to other parties. (400,000 tonnes per annum of zinc metal in total). The plant would also produce an additional 100,000 tonnes of lead/silver concentrates."


It seems the 200,000 tonne figure was a later thing. So I don't think it unreasonable, despite complex metallurgy, to get some sort of project up and running for $800m (it may not be the most efficient at extracting ALL the metals, but then again the Iranians aren't great themselves on economic efficiency, are they? The Aker Kvaerner proposal was a Rolls Royce as far as mining efficiency was concerned?). Anyway my argument still stands that our directors (except possibly for Dr Al-Bararmi) are Iran dumb.