how do you value fmg now, page-6

dull i am unsure of how fmgs ore contacts are settled,
i know payment is made in usa $,but are payments

1 a simple agreed amount per tonne

2 settlement in us$ benched against aus$

3 an agreed amount based on i/o content av. yield per tonne

4 sold on forward contracts

5 benched on i/o content against production costs as a percentile,revenue

6 some form of rise and fall settlement

7 any gratis delivery to compensate any of the above forms of contract

i think fmg might have the edge on production and delivery costs for the asian/chinese markets,but in assessing that how do they maintain a competitive position,surely there must be some flexibility in their contractual arrangements.

if anyone could help here it would be appreciated