I see the CEO of BHP saying that he does not expect to see ore from this mine in market until 2030.
This comment makes sense as the project is huge and requires the construction of a 650km railway plus a new deepwater port capable of handling 120Mt pa of ore (port to be used by Rio + the other partners from their mining concessions). Easily 4 to 5 years of work for those infrastructure components alone by the time they finalise approvals, let contracts, mobilise workforce and then construct.
2024 alone will be fully taken up with finalising all the JV and financing agreements for this massive infrastructure build.
By the time this monster is up and running, Koolan would be fully depleted and MGX would have moved onto the next phase of its life with operating the new projects they are busily seeking at the moment - and they may not necessarily be restricted to iron ore.
MGX Price at posting:
54.0¢ Sentiment: Buy Disclosure: Held
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