Fair to have this position, and there are many interesting new developments. Also BMW is active in new drive concepts. I do not ignore this.
regarding offtakes: yes, Hyundai doesn’t do permanent magnets, and also Siemens Gamesa not. and though they have the offtake agreements with Arafura. as for Siemens Gamesa they don’t do magnets but they build the generator.
and they secure the material for their supply chain, doesn’t matter if they built magnets.
as I wrote, you need the offtakes, they are part of the process.
but Arafura’s problem is not the additional offtake, it’s the FID in principle. It’s the huge capex needed.
again, I know the importance of offtakes. But I am not saying this thinking is bringing the industry forward. Hen and egg problem or catch 22. Sometimes one has to change perspective.
anyhow we need the FID
ARU Price at posting:
11.3¢ Sentiment: Buy Disclosure: Held
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