Hard to know mate. Import prices are probably still around that $14k mark that carbonate has been getting sold out of South America for. Korea as far as I know doesn't have a local industry and this announcement makes it sound like current conversion capacity in Korea is limited but growing. The announcement suggests that there isn't really an export market yet.
However I would say that Ken is smart enough not to be taking a haircut just for the sake of country diversification. I would wager that (particularly given it's a LOM offtake) that there is plenty in the deal for us. First product from stage 2 won't be until early 2020 though so prices could be anything by that time and I assume they will have some sort of export market by then.
Ann: POSCO Backs Pilgangoora Stage 2 Expansion and Downstream JV, page-61
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