yep picked up a few this morning Journeyman POSCO generally...

yep picked up a few this morning Journeyman

POSCO generally don’t move for an involvement in a project or to be involved in the funding of infrastructural requirements to a project unless there is fantastic potential, it’s a reason why they are a multi billion $$$ company.

A few years ago they started to take a stake in Murchison metals due to the promise of Murchison’s Jack Hills and Weld Range projects, they became Murchison’s largest shareholder with, then became a key member in a infrastructure consortium to build and develop the Oakajee port and rail line out to draw ore out of these project for export, the consortium included Murchison and Mitsubishi; it wasn’t just the minerals POSCO were interested in; due to that region being rich in minerals it also attracted smaller miners whom were drawing material out by truck; POSCOs think was ore and a mineral taxi service i.e drop in a main and branch lines and service the whole area and recouping their investment and making $$$ by cartage per tonne through a rail system and straight to port.

Feasibly costs escalated, (they are around $6 billion from memory), Murchinson baulked at the costs and went weak at the knees it seemed, Mitsu bought out Murchinson’s 50% interest (which therefore included POSCOs) in the Oakajee port and rail, that project is still bobbling around as a ‘proposed’ project to this day.

Long opinion short, infrastructure cost out of peak up to Darwin would be significantly cheaper in my opinion considering the element of existing infrastructure already in place which zips up from Adelaide to Darwin , the ability to feed product through slurry lines into existing or proposed train load outs and up to Darwin would certainly be a big tick with regard to feasilbity studies one would think, im sure the mineral side of Iron and Vanadium would also tickle POSCOs fancy.

Vanadium...well there’s another story. Plenty to like in this one IMO