announcement out, page-23

You can almost smell the acid!

I'm intrigued by "major international steel industry corporation". I'm hoping when they say "major" that they mean "mega". As we've talked about before, the local companies are small players on the international stage. It would be nice to deal with ones in the >20Mt per annum range, although Bluescope would still be a plus ("international" could apply given they have NZ Steel).

Interesting if the mill scale is imported and iron exported. Presumably the economics still stack up. I can't imagine they would bring coal to Newcastle! Is that what is meant by "economies of scale"? :D

I get the feeling they had to mention it in the quarterly because of timing and market speculation, but it could be premature by a few days for details to be available.