if i were the md of rio., page-20

The Colluli Project will be competing with nearby Allana Project (Ethiopia) for capital, which will be developed first if Eritrean Govt changes cause delays at Colluli. Ethiopia is probably less risky for mining investment.

Last announcement was unsatisfactory raising many questions and sowing doubt. Still no clarity about if Emanco is to contribute any capital, and how Enamco would fund the capital cost of its 50% share.

Perhaps ESS2 is pointing towards a significantly improved rate of return, causing the rethink.

Should still be an attractive project if the Eritean Government is genuine and doesn't have other agendas and surprises.