Rockwood, probably thought they had the deal in the bag, may still be pondering what could have been, after losing out fairly passively over the competing bid.
Galaxy's hard rock may not be in Talison's league, but it is actually further advanced in regard to the conversion/carbonate plant. Close to key market, capable of battery grade,compared to Talison's lower technical and chemical grade processing. Talison was only considering a conversion/carbonate plant in Aust, where one would assume costs would be higher.
Throw in a big world class brine project Sal de Vida, predicted to produce 25k tonnes per annum, and it looks like there is good value in GXY. Talison also had brine projects in Chile, so the companies are similar in project mix.
Certainly geopolitical complexities, and different stakeholders, but in a fairly concentrated market with few choices these differences can probably be worked out.
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