Actually it was discussed at some forums if my memory serves correctly.
For the moment it is a 100% subsidiary to FMG, but is set up so they can spin it off in the future, no plans for that now.
Each project will be setup independently, similar to Iron Bridge where FMG owns 61% but other partners own 39%.
So maybe a local government might own 30%, or maybe a local electricity company might own 30%, maybe we might only own 10% ... each project will be different.
Each project will have non-recourse loans, so FMG can only lose its initial investment as I see it.
Iron ore price, page-32801
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