Pioupiou,
Thanks for your analysis. Recent 'partnership' style contracts may offer the potential of higher NPAT margins. At Baralaba North, the contract has been structured to "incentivise the Contractor to maximise coal production and to perform at below budget cost." This will be on top of the 4 month contract extension (and revised $420m contract) as a result of Golding's optimisation of the mine plan.
Chart Update, page-342
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