Ann: Grants Iron Ore Basin Discovery Confirmed, page-29

A new name is looking for Australian iron ore for its Port Kembla steelworks: BlueScope Steel.



Iron ore discussion starts around 4m 15s

An AFR article earlier today said: BlueScope faces investor pressure over foreign iron ore.



From the following tweet:

'The company's Port Kembla steelworks, which makes 3.2 million tonnes of steel annually, is testing different parcels of iron ore from various players as it prepares to end a 17-year contract with BHP, which has been supplying iron ore shipped from Port Hedland in Western Australia under a long-term arrangement that began when BlueScope was de-merged from BHP in 2002.'



Points for HAV:

1. BSL's 17 year iron ore supply contract with BHP is coming to an end.

2. BSL is profitable: reported a 42% jump in first-half profit to $624.3 million.

3. BSL has funds for expansion.

4. BSL needs to lock in Australian iron ore supplies.

5. BSL's 3.2mt pa steel production at Port Kembla is almost 3x Liberty Whyalla's current 1.2mt pa production capacity (actual production for year: 1.1mt).

As was the case with Wanbao, HAV is locked into an exclusivity agreement with SIMEC on GIB, Grants and Maldorky. Just over 1 month to go there.

Maybe Mr Vasella's people could get in touch with Dr Giles? Otherwise, Dr Giles should give Mr Vasella a call on 1 April 2019. HAV really doesn't have any time to waste.

DYOR