I reckon FMG's stated reason (securing gas for iron ore operations) is a furphy, maybe other than for some power generation. They can see the top of the iron ore mountain - in fact, nearly fell down the cliff recently - and are now looking for the next wave to catch. Hard to find cheap commodities/assets, but given good shale sells for thousands of $/acre in the US, OBL might look cheap to them.
I reckon FMG's stated reason (securing gas for iron ore...
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