RIO did a share buyback and payout a higher dividend which contributed to the debt increase. They are cutting into cap ex hard and no mention of Silvergrass mine. IO ore capex for 2015 was $1.7 billion down from $4.2 billion in 2014 so that should slow them down. Also a writedown with Simandou IO of $1.1 billion.
FMG in comparison has not done a buyback and pays a lower dividend with the focus on large debt reduction. Relative to BHP and RIO it appears they are performing better since they are not distracted or have to fund other operations in trouble. That seems to be the message from Twiggy when he referenced the "barbequing of billions" on overseas operations.
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