Perhaps Alcoa didn't have the same competitive threats as Incitec Pivot? An interesting dynamic when the high cost producer is the multinational company.
A smart move from Incitec Pivot, as they can now focus on better performing parts of the business.
But why they spent 80m on a capital upgrade in 2020 at Gibson Island, then partook in a 600m placement in May 2020, after the Strategic Review in April 2020 came to the conclusion to 'retain the business' is a bit perplexing.
This comes after the Managing Director and Chairman of IPL's competitor, Leigh Creek Energy, said they had 'secured and committed 1 billion dollars of tier 1 finance for a transaction that didn't go ahead'.
The distribution network also has a two year shelf life after 2022 - foreign imports will be undercut like no tomorrow.....
What a shocker!
(20min delay)