Re: It will probably take a few.....
posted on
Nov 10, 2015 01:48PM
I honesty appreciate your thoughts and openess on all administrative issue like devcorp. Which departement at the Ministry of Traffic and Infrastructure has drawn and negotiated Cliffs' terms at the time ? Would a devcorp still make sense ? I doubt it. It is so administrative and the solution yet so basic. Once permits are granted, it is already a different ballgame. Administration has never played the upper role in life, it is merely a measure for a level playing field within boundaries. Cliffs' potential transaction was far beyond it. please allow me to disagree with you, Johnny, on the topic of the capability of the Democrats. Like earlier stated there is an entire apparatus within the Ministry, civil servants, consultants, with incredible expertise. Ready to act. And the democrats themselves do have a better reputation than the rather subjective vision you have taken. As for the investment amount, my personal view is that I have seen a whole lot worse business cases that got financed, even far higher amounts, than the one Cliffs has been looking at. Mind you, without the Nickel and PGMs that Not already had outside Cliffs' business case, which was strong enough to pursue. John, I really appreciate your opinion, but I find it hard to admire someone who states in Capital there is no money for a fantastisc businesscase like the one we look at. Matter of time, since the (tax) revenues will be a multiple of initial investments to be made, grosso modo, half a billion to one billion versus multiple billions. If I calculate alone the income tax over a number of years, or the VAT, or fuel taxes, should be a cookie at current interest rates at almost zero.