It seems to me people have put way too much importance on POSCO being on the registry - POSCO, one way or another will remain the major off take partner, no matter who "owns" the company - BKT after bankruptcy will be re-birthed and POSCO will still be VIP to the new owners.
The Tanzanian government doesn't give a "rats" for BKT shareholders - they still own the land and the royalties, and new owners will still have "social obligations" etc etc and will have to "develop local skills and economies" etc etc .... the more things change, the more they stay the same.
$40m is small change for POSCO, and just the price of admission to developing a long term relationship with the Tanzanians ... or not.
Ann: Investor Presentation - 121 & Indaba Mining Conferences, page-5
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