no chance of the mine in Guinea being ready next year. Scheduled to commence at end of Dec 2025 and it’s just been the shuffling of papers at this time. The engineering and capital ex requirements will be intense. And if there’s any political manoeuvring, well it’s back to square one.
This will pose zero threat for a long time to come. India also grew steel production by 15mt last year to 140mt and look set to continue similar growth going forward.
There were 500k of IO shipped monthly from port headland from June last year to India according to Pilbara ports website. If they want to get to 300mt capacity of steel production by 2030, they will need to ramp up their own production or continue to draw down more and more from Oz, meaning less being shipped to china
Ann: Dividend/Distribution - FMG, page-191
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