Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.
Debt-heavy Australian iron ore miner Fortescue Metals Group could find willing investors in Chinese steel mills anxious to ensure multiple sources of supply for the raw material, a senior Chinese government official said on Thursday. Media reports this week said Fortescue - already about 15%-owned by Chinese steelmaker Hunan Valin - has held talks with Chinese industrial conglomerates CITIC and Baosteel Group. Fortescue said only it was not aware of any parties seeking regulatory approval to take a stake in the company.
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