Question I (15 points) (a) Biloela Resources (BR), 3 Queensland based mining company, is considering developing a copper mine in Brazil. It plans to use a subsidiary, Bahia Mnes, to develop the mine. BR has a 90% share in Bahia Mines with the remaining 10% owned by the government of the state of Bahia. BR has completed exploration and feasibility studies and has spent the last few years in the process of acquiring permits to begin development. The proposed mine has \"proven and probable reserves\" of 50 million tonnes of copper. BR has so far spent USD 200 million and will need an additional USD 800 million to complete the developmental phase of the mine. The plan is to use open pit mining and use \"heap leaching\