The issue is the level of debt.
We have not been provided with the interest KML is paying but with $US2.564b debt (as per my earlier post), even at 5% the interest is $US125m pa. That's about $US15 /tonne ($AUD20) interest cost without any repayment amount included.
KML is still losing money at the cost base and sale price.
The issue is the level of debt. We have not been provided with...
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