Jb, I was looking over a 2013 company announcement below, not sure if anything has changed since then re updated agreement terms, but I noticed that under the arrangements when Iron Bridge is commissioned Formosa would agree to purchase up to three mtpa of iron ore at market prices to supply their Formosa Ha Tinh Steel project.
https://cdn.fortescue.com/docs/default-source/announcements-and-reports/fortescue-executes-us1-15-billion-joint-venture-agreement-with-formosa.pdf?sfvrsn=ba742a9a_1
I wasn't sure at what stage construction Formosa were at. I then found this. Refer to the last paragraph on page 19.
https://one.oecd.org/document/DSTI/SC%282022%2912/FINAL/en/pdf
Other references:
https://www.linkedin.com/company/formosa-ha-tinh-steel-corporation/?originalSubdomain=vn
and
https://asia.nikkei.com/Asia300/Formosa-Plastics-steel-venture-in-Vietnam-set-to-double-capacity
and
https://www.fhs.com.vn/about
and
http://www.cisdigroup.com.cn/html/2/competence/ty/18/07/2144.html
Tony
Iron Bridge, page-12
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