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https://thewest.com.au/business/min...in-of-sky-high-iron-ore-prices-ng-b881859054z

Gina Rinehart’s Roy Hill steel partner requests monster dividend to ease pain of sky-high iron ore prices​

Daniel NewellThe West Australian​

Thu, 29 April 2021 7:33AM.......​

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... “The $1.35 billion payout for the first three months of 2021 was requested by Korean steel maker and 12.5 per cent partner in the Roy Hill joint venture, POSCO, according to the Australian Financial Review.​

The dividend was agreed at a Roy Hill board meeting in late March and is understood to represent about three-quarters of Roy Hill’s operating income for the quarter, the AFR reported.​

POSCO told the AFR that it had requested a dividend be paid sooner rather than later to offer some relief to iron ore price rises that this week broken several index benchmarks and is now nudging $US200 a tonne.​

“POSCO, burdened by rising iron ore prices, asked Roy Hill for the largest dividend in the first quarter, and Hancock, the largest shareholder, accepted it positively and confirmed the dividend amount more than doubled from the previous quarter,” the Korean steel maker said.....​

Maybe it’s also wanting to fund some lithium works?

Cheers