Bolani iron ore mine is situated 1100 kilometres southeast of New Delhi in the Indian state of Odisha. Iron ore has been mined at Bolani since 1957. The mine is one of five captive operations in eastern India owned and operated by SAIL, the government-owned Steel Authority of India Limited. Capacity at Bolani has been upgraded to 7.5 Mtpa and SAIL anticipates to further increase the mine to produce 10 Mtpa (raw) in order to meet it's steel plant requirements. We have assumed that this occurs in 2020, a year behind original estimates. Ramp up has been slower than anticipated due to ongoing delays in permitting. This has been an issue over the past few years and has the potential to further delay capacity increases.