Wal King Lucky?, page-39

Hi Matt

Welcome back.

... Hebei is the backer of IMIC and off-taker for low grade Nkout (35MTA) along SDL’s rail line...

Nkout is 330km to the port and Mbalam-Nabeba is 510km to the port.  Mbalam-Nabeba is high grade, low cost but Nkout is low grade, high cost.  It was abandoned by India (and Posco too?) after take over bid was made.  India publicly commented that Nkout is NOT economically viable to be developed as a stand-alone project.

When China bought it, I strongly believe China's plan was to build a rail for both Nkout and  Mbalam-Nabeba.  I think China was very angry when our rail job was given to Mota-Engil.  We have stuffed up their plan!  I posted these before and I believe China has stepped up their game.

Cheers.

Pikapika