I wouldn't be surprised if the LH MLG has collapsed or been torn from the gear rib.
I would say that they will need a full set of gear (~USD 10m) a pair of engines, nacelles and pylons ($50m+ at spares price), and about 2 months in a hangar, 3 months if the gear rib needs to be replaced, as it never has been done on an A346 before.
I would think that Iberia would be quite happy to have it written off, lets face it the A346 is not exactly Queen of the Sky, and I have a feeling that they are worth more as a financial write-off than an airframe.