Jeremy Raper • 19 Comments
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.
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.
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