The consensus from this weeks G7 was that they need Australia and South Korea to leverage their respective strengths to ensure that strategic minerals are supplied outside of China's dominance.
G7 Action Plan has just been released In the G7's discussions, Australia and South Korea received a lot of attention. On the sidelines, Albo and President Lee and their traveling bureaucrats had lengthy conversations. What they discussed is yet to be revealed.
Nevertheless, it's comforting, that the governments of South Korea and Australia recognise the problem of western supply which was raised as part of the G7 discussions. It is obvious that POSCO, a leader in the introduction of hydrogen reduction steelmaking, is a natural fit for the Whyalla Steelworks which is up for sale. This week, Nippon Steel finished its takeover of US Steel for $15 billion. To be competitive, POSCO now needs to raise money in the hope that their newly elected government, which has been in power for two weeks, will help it in order to compete for a deal. But there are indications that President Lee is on board. He just needs a moment for two to settle the job.
sourceAdd another 2.4 Billion from Australia's state and federal governments and the incentives for RNU's BAM project, then it could add up to a highly attractive viable proposition for POSCO to set up and call Australia home.
--> --> --> --> --> --> --> kangaroo --> --> --> --> --> --> -->
All IMO, DYOR, GLTA(patient)H
