iron ore sales, page-3

A lot will depend on the $A. Volume should remain steady up to nameplate capacity of 6M (+) tonnes pa (BCI 4.5 MT for 75% of the JV) and HengHou from memory have off take rights to 20M t over 8 years. The balance of ore I understand is sold into the spot market at, presumably, a premium to the HengHou off take price. This is surely around 2M t.
FMG do the marketing for the JV.
If the $A drops it should be a real kicker with the only exception being that our (modest) debt is priced in $US, as a fellow poster here so keenly advised. My take on this is that the debt could be paid down faster than anticipated freeing up future cash flows for dividends and M & A.

I hope Chelkn follows this up with Some wisdom. Over to you.