Hey Jb,
Yes, my back of the envelope too is approx USD$1.35 billion unallocated to FFI.
FFI’s FY23 anticipated expenditure comprises US$500 - US$600 million of operating expenditure and US$230 million of capital expenditure.
I think those funds (USD$500 - USD$600 million) for FFI's operating expenditure does sound a little high at first glance, but I think they are going to be required and necessary for the vision that FFI is clearly focused this decade in particular.
Note that most of the USD$1.5 billion maximum expenditure per year won't start until FY24.
Refer to page 9 & 10.
https://www.fmgl.com.au/docs/default-source/announcements/fortescue-announces-execution-plan-for-industry-leading-decarbonisation.pdf?sfvrsn=7b20d3db_2
Tony
POWER!!!! Fortescue Future Industries, page-2012
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