It will be interesting to see who will take on the Whyalla Steelworks. Posco and Bluescope are rumoured to be in the running as potential new owners. Korea's Posco I find particularly interesting due to their Green Steel ambitions and their investment into graphite as well. With $2B in government incentives up for grabs from state and federal government. A planned green hydrogen plant heavily subsidised by the government, in a state that will be 100% net renewable electricity by 2027. Green Steel needs magnetite, and the new owners will want enough to feed the Steel mill for 50 years. Simec that feeds the Steel mill does not have enough magnetite for 50 years. The new owners must get more, and logically Lincoln's Magnetite is the closest and cheapest to mine.
LML Price at posting:
0.5¢ Sentiment: Buy Disclosure: Held
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