Ok - so they physically owe 3.6 billion, but the 700 million is the cost of the leasing or borrowing cost of the money that needs to be factored in, bringing it to gross debt of $4.3 billion.
Saving and paying slot of this in one go will heavily reduce the borrowing cost.
Thanks for the explanation.
Cheers MJAk
Iron ore price, page-1558
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