Ann: Joint Venture with Ganfeng - Overview, page-24

I think that their key market strategy is to dominate the supply chain.

The current deal with us delivers them 450,000 tpa for 23 plus years for which they are just paying ... market prices.

There is very little extra leverage for them in buying us out (at least until everything has been sorted and settled down) - unless we are selling at a ridiculously cheap price!!

Securing such a large strategic long-term supply istheir main priority. The great deal they have swooped on, means a further discount for them.