An interesting piece of this puzzle is Per-Erik Lindvall who formerly served as a VP at LKAB and currently sits on Talga's board of directors.
Presumably, he played a key role in the negotiations with LKAB and ultimately decided that whatever deal was on the table wasn't good enough (either that, or he got overruled by the rest of the board). I'd give a few pennies for his thoughts right now.
Ann: Tripartite LOI Update, page-32
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