As good a proxy for the China capital spending bubble as anything can be, Australian miner...

|By:, SA News Editor

As good a proxy for the China capital spending bubble as anything can be, Australian miner Fortescue falls another 13.9% in Sydney as it asks its creditors to waive debt covenants if iron ore prices remain under pressure. Less than a month ago, management was bragging about the continuing mining boom, now the company has shelved expansion plans, and a dilutive capital raise seems likely.