Let's me tell you WHY your number is way off: (BP or anyone happy to point out my error)
July to September, Net Debt US$5.2B down to US$4.2B = Net Cash US$1B
October to December, based on US$59.31 realised price (US$1 less than MB 58% premium, currently US$60.31 as in 20/12/2016), or $10.95/t higher than last Q. If shipment for current Q is 44MT, Net Cash is US$480M higher than last Q.
Therefore I had Cash Flow of US$2.48B for Half yearly in my last calculation.
Now Cash at end of September is US$1.8B, plus US$1.48B (cash flow), minus US$280 (Dividend), minus $290 (Tax), minus US$1B (debt repayment), then you get US$1.7B in the bank.
DYOR.
Frank.
Iron Ore Price, page-15258
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