Ipad Mini Retina teardown - uses iPhone 5S A7 chip, not Air A7 chip
http://www.ifixit.com/Teardown/iPad+Mini+Retina+Display+Teardown/19374
So it won't be clocked as high as the Air. I wonder where it will fall on the throttling side of things, as the 5S drops to 1GHz in two minutes.