| Term |
Definition |
| BFP |
blast furnace pellets |
| C1 costs |
cash costs per ton of pellets, ex-works, excluding administrative and distribution costs |
| CFR |
delivery including cost and freight |
| CIF |
delivery including cost, insurance and freight |
| DAF |
delivered at frontier |
| EXW |
ex-works |
| FOB |
delivered free on board |
| IPO |
Initial Public Offering |
| LSE |
London Stock Exchange |
| WMS |
wet magnetic separation |
| Underlying earnings |
an alternative earnings measure, which the directors believe provides a clearer picture of the underlying financial performance of the Group's operations. Underlying earnings is presented as profit attributable to equity shareholder before adjusted items. Adjusted items are those items of financial performance that the Group believes should be separately disclosed on the face of the income statement to assist in the understanding of the underlying financial performance achieved by the Group. Adjusted items that relate to the operating performance of the Group include impairment charges and reversals and other exceptional items. Non-operating adjusting items include profits and losses of investments and businesses, as well as IPO costs. |
