POSCO now appear to have given up on East Africa.It feels like...

POSCO now appear to have given up on East Africa.

It feels like POSCO are getting on the front foot and have got out now. They have chosen Australia as the place of certainty.

For Australian graphite players in East Africa, the writing has been on the wall. To make matters worse, there is a chance that SYR will go insolvent, which is a serious risk if POSCO continue as is. Who will now back SYR in its present form as two operations in two different locations? Like BKT, it may have recently received the support of the country's bank itself but surprise, surprise, it has Chinese loans and Chinese influence. Unless, I missed it where was POSCO's support?

Regardless, this new facility in Australia has happened so fast. So fast that I don't think any Australian media outlets has had time to cover this development as yet. This shows how fast things can move. It also brings POSCO a step closer to their goal of integration across the full spectrum of operations, from research and development to production and sales. A great step forward for POSCO and Australia's relationship with it. IMO, it could also be an official acknowledgement that their African experiment is over.

Australian companies like RNU will provide POSCO with certainty, which helps in an increasingly geopolitical unstable world as opposed to the one that is developing in East African nations where China has established influence, i.e Mozambique (Thousands flee homes in Mozambique as conflict and disasters fuel worsening crisis) and the Tanzania elections, Crisis of truth

Looking forward to an interesting week as further news unfolds.

All IMO, DYOR, GLTA(patient)H