FMS deposit is closer and better than RHI. So, if MIN past up...

FMS deposit is closer and better than RHI. So, if MIN past up FMS we can assume the charges were higher and uneconomical for JV??? (FMG. GINA/Roy Hill, S32 as well??)
Chheers

Cheers

Red Hill Quarterly (in Pilbara)

31 January 2022 Company Announcements Office ASX Limited Level 4, 20 Bridge Street SYDNEY NSW 2000 ACTIVITIES REPORT FOR THE QUARTER ENDED 31 DECEMBER 2021 CORPORATE On 10 November 2021 the Company paid a fully franked Special Dividend of $1.20 per share. The board has established a policy of delivering funds to shareholders that it deems are in excess of the need to maintain a reasonable level of financial strength. The Company currently holds funds of around $111 million after payment of the dividend and first instalment of income tax of $11 million. RED HILL IRON ORE PROJECT The sale of the Company’s 40% interest in the Red Hill Iron Ore JointVenture (RHIOJV) to Mineral Resources Limited (MinRes) resulted in an initial payment of $200 million on 2 September 2021. A further $200 million is to be paid when the first commercial shipment of iron ore extracted from the RHIOJV tenements departs port. Red Hill Iron will also receivea 0.75% FOB royalty revenue stream from all future production from the RHIOJV tenements and, for the first 10 years, also from the APIJV owned Upper Red Hill Creek tenement. Red Hill Iron will receive additional royalties of 0.75% FOB from all production from the MRL owned Bungaroo South resources that are developed in association with RHIOJV production. MinRes has advised the ASX in their latest Quarterly Report (Refer ASX: MIN 25 January 2022) that they have continued to progress their Ashburton Project with significant engineering and detailed design continuing. MinRes has contracted to have two transhippers built at a major COSCO shipyard in China, with an option for two additional transhippers to be delivered in-line with the projected production ramp up. MinRes also advised that the project economics are compelling through all economic cycles and that they remain ready to commence construction as soon as final Government and regulatory approvals are obtained.