Thanks, yes I'm aware of both, but that is 2026, and I'm not sure they will be ramped to nameplate by then, given the debacle we've witnessed with Kemerton and Kwinana here in Oz from "experienced converters", we'll see and if so, that's still another 2 years having to deal with China.
Though, PLS could opt out of renewing ~215kt of spod offtakes with China customers at end of this year, if so what are their options 1. Buy time and only renew on an annual basis until their new JV conversion facility is ready, maybe a larger facility, 2. Sell those tonnes via the BMX in the meantime, 3. Sign up new ex-China offtakes customers, though prefer the former options, given the potential of the midstream opportunities.
There's plenty of options, and once P1000 in online, spod sales could read something like this - 15% to China, 32% to POSCO/PLS JV, 30% to new JV and 23% for production of midstream offtakes.
Good News & Bad News, page-37287
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