I'm a bit perplexed by the negativity being posted.My 5cents is...

I'm a bit perplexed by the negativity being posted.My 5cents is that the urbanisation of Chindia has not been completed and has a long time to run.
Our IO production is increasing,as is the grade and future IO opportunities to bring to production.Sure the IO price will ebb and flow,but currently it is very healthy.
FFI provides enormous growth potential and to commit 10% of npat to that end is worth it,as the prize is so large.If it fails ,then we haven’t gone into debt to fund the growth prospect.So no great harm done.
De carbonising will pay for itself and lead the world for heavy industry,which can only be seen as a great thing.

Conversely if IO and commodities crash because the World economy spirals down for a number of years then Australia's economy will tank with it and all assets here will decrease,unemployment will rise and we will all have alot less nett worth.

I am bullish and think FMG is the most dynamic company I have seen on the Oz market in my 40 years of investing.
NFA ,DYOR etc
Gordy