> $11.5B mining giant Mineral Resources

That made $154 million profit on $5.3 billion revenue in 2024. So about 1.1% (rounding up) return on capital.

While Fortescue (FMG), still not the largest Aussie mining outfit, made a profit of $6.5 billion on revenue of $17.62 billion in the same period, with assets of $48 billion, so about 14% (rounding up) return on capital.

But yeah, totally, MR is a mining "giant".

For some reason, I don't think emulating them would be a very good idea.

_Conflict of interest disclaimer:_ I did a consulting gig for FMG several years back, but have absolutely no dog in this fight aside from being sick to death of breathlessly naïve and exaggerated "reporting" any time some C-suiters do something stupid AF involving AI.

smh indeed