Ann: Works Approval Lodged - JWD High Grade Iron Ore Project, page-12

I wonder where FEL are up to with their JV project?

Still some money for them to make with GWR, although the split revenue terms takes the shine off the combined project.
51% FEL
49% GWR
If we adapt the same terms for GWR contract, deduct the contractor terms of 30% (15%each)
36% FEL
34% GWR
Then you have the royalties/native title etc.
This last part there is more cream for GWR as it is built into the stages.

I'm interested to see how this is going to play out for FEL.
GWR will be definetly beneficial on top of what you already have.