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clock Created with Sketch. 30/03/23
17:07
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Originally posted by zebster:
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FT, One would be forgiven for thinking the timing of BHP's rejection of MCR's off-spec (As-affected) blended ore looks might be a little more than coincidental. However, it might just be that. It's hard to say definitively without being inside the tent, but I think BHP's acceptance of off-spec product from MCR would likely have been only a short-term arrangement, pending a clearer picture emerging moving forward. Today's announcement by MCR clearly states they (MCR) were chasing a (formal) amendment to the offtake terms re- product spec. BHP have now said 'no' and it seems clear that delivery of any off-spec ore is now off the cards moving forward.everyone that MCR is beholden to it for sales revenue. everyone concerned just how important (existential?) BHP's Kambalda concentrator is to MCR, regardless of who owns it. This feeds into my view that BHP won't bid on MCR. They don't need to, unless AF can figure out a way to justify the capex spend to empower MCR with its own concentrating capacity.bit lot of a joke and not a live scenario for me, but I'd buy tickets to that movie.
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If you consider Twiggys outbidding BHP for Norant which has got a long way to go to become a producer, he may just be looking to mothball MCR until it suits his plans, he certainly does not need the revenue in the short term. The question is does BHP lose out on feed to meet its commitments and can this be a material impact to it.
(20min delay)