Well whilst under-utilisation of any contract/infrastructure is...

Well whilst under-utilisation of any contract/infrastructure is clearly sub-optimal, the announcement does state that the minimum charge was already accounted for and as such, is not an additional cost on the books. And they get to pay it over 12 months under the new agreement so that also assists any immediate cashflow.

Certainly not the best and I share your overall frustrations but this contract revision, is also not a disaster. Once (if?) production ramps up as expected, then these inefficiencies disappear.