RE:RE:RE:RE:Why build new mines?We have to assume BS'ing, or to put it more charitably, that he's putting on a poker face while Rio dithers. They have all year, no reason to think they won't use all that time. Right? We've gone from "next steps are under discussion," to "if we haven't started negotiating by then (November), we've done something wrong." IMO, equal chance Rio asks for, and gets, a new deal end of 2023, with little additional benefit to us.
Plan B is to try permitting solo, which IMO will be disastrous. Delays, requests for additional work, extensions. Our cash position is dependent on the permitting timeline as written - we're already seeing requests for indefinite extensions to the current comment period. Not the one you mentioned, Steve. It all snowballs.
Meanwhile, NEM is likely to get its copper exposure through Newcrest. The grid power initiative sounds nice, but the road took forever to actually get moving.
There is no plan C, IMO.