Fortescue Metals Group Ltd ADROTCQX
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  • May 26, 2015, 8:47 AM
    • Fortescue Metals (OTCPK:FSUMF, OTCQX:FSUGY) jumps as much as 15% in Australian trading following a report in the Australian Financial Review that Chinese companies including Baosteel, China’s largest publicly traded steel producer, and conglomerate Citic are seeking to invest in the company.
    • Fortescue already has close ties with Baosteel, which purchases ore from the Australian company and is a minority investor in Fortescue’s Iron Bridge magnetite project under development in Western Australia.
    • Fortescue, the largest pure-play miner of iron ore in the world, has been struggling to remain profitable amid the sharp fall in iron ore prices and its continuing massive debt burden.
    | May 26, 2015, 8:47 AM | 1 Comment
  • Jan. 3, 2014, 8:59 AM
    • Fortescue Metals (FSUMF, FSUGY) resumes surface mining operations at its Christmas Creek iron ore mine in Australia four days after the death of one of its contractors, news.com.au reports.
    • The instance is the second death at the mine in less than five months.
    | Jan. 3, 2014, 8:59 AM
  • Sep. 25, 2013, 10:59 AM
    • Global iron ore prices are expected to trade in a range just below current levels in Q4 and beyond, miners Vale (VALE -0.7%) and Fortescue Metals (FSUMF.PK, FSUGY.OB) say, reflecting optimism Chinese demand will stay resilient.
    • A top Vale executive expects more moderate demand growth but no big decline in China, the world's top iron ore consumer; he predicts prices of $120-$130/metric ton in Q4.
    • Vale's expansion plans to raise annual production capacity to 480M metric tons by 2018 from 306M this year remain intact, the exec also says.
    | Sep. 25, 2013, 10:59 AM
  • Apr. 4, 2013, 7:42 AM

    The iron ore market will be move into surplus this year for the first time in a decade, says Morgan Stanley, and continue there until at least 2018. It's not rocket science - mine expansion projects announced during the boom years are coming online just at the time demand begins to slump. The question for miner investors: Is this already baked into their stock price?

    | Apr. 4, 2013, 7:42 AM | 2 Comments