Government loan on 60% of the converter plant is a great news. Lots of support from the Korea government. It would otherwise require A$200m extra cash payment from PLS into that project. Together with current debt, PLS will be on A$700m debt if it choose to uptake 30% of POSCO JV.
For the P1000, we will know soon the capital costs. A $1bn or so of that would be needed. It does not necessarily mean we commit. I would suggest PLS to find a partner who can together building converter plant with PLS for that extra tonnes. Some deal can be done. An offtake deal with capital investment with car makers or converters.. Otherwise, it's on a piece of paper until things are clear.
Government loan on 60% of the converter plant is a great news....
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