Iron ore price, page-25059

At these IO prices, FMG looks good to me. I have been watching closely and the dip has been too good to resist. The 1Q performance was outstanding. The extra cash will easily offset the increased capital spend this FY.

China tensions may linger, but any potential disruption to AUS IO exports (without significant expansion from Brazil to compensate) will only drive IO prices higher disadvantaging Chinese consumers. Steel is critical to China's infrastructure. And without infrastructure, growth is constrained.

In terms of Twiggy's green agenda, he's clearly got a vision and sees where the world is heading. It's easy to see the change sweeping the globe. As positive as I am about this vision, I'm waiting for more detail, but resources will clearly remain a key component of FMG's portfolio. I would have liked to see them embrace gold, but that's me.

Baron