Mongolia and Cobar
Both of these are in dispute. Mongolia is the big one. They have provisioned a fair bit of the receivable on this and also have the PPE there. Obviously they are hoping for a resolution to this one soon.
Cobar is for a much smaller amount. I believe it has been fully provisioned in the accounts so any recovery on this one is pure profit and cash flow. Cobar is owned by Glencore from memory - could be wrong here.
Most of their customers are major mining companies so generally don't have problems with bad debts. A risk if that Fortescue will be a-holes on the way out the door paying them but I think they are very reputable so won't just not pay them.
Ann: Christmas Creek Project, page-69
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