That is indeed the point everybody is saying 25% of the profit, but it is of the free cash flow.
This 50 year old mine needs a lot of money to keep it in good order, they did not do that in the past, but current managemnt did.
So now they are up-to date, expand the minelife to 35 years or so and start paying out more div at the end of the year.
Shagang Offtake, page-26
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