Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.
Australia's Fortescue Metals Group has two stark choices to deal with a crash in the iron ore market and cut its $9-billion debt pile - sell off stakes in its mines or transport infrastructure, or sell new shares. Investors say the quickest capital-raising option for the world's No. 4 iron ore miner would be a rights issue, although that could lead to the dilution of the one-third stake held by chairperson Andrew "Twiggy" Forrest.
Australia's Fortescue Metals Group has two stark choices to deal with a crash in the iron ore market and cut its $9-billion debt pile - sell off stakes in its mines or transport infrastructure, or sell new shares. Investors say the quickest capital-raising option for the world's No. 4 iron ore miner would be a rights issue, although that could lead to the dilution of the one-third stake held by chairperson Andrew "Twiggy" Forrest.
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