Tag Archives: Andrew Forrest

Fortescue Metals moves to rescue falling share price, but too late?

   Michael Sainsbury Crikey, crikey.com.au, March 13, 2015. Andrew “Twiggy” Forrest’s Fortescue Metals Group will need to move soon if it’s to avoid serious financial strife caused by the ongoing downturn in the global iron ore market. The world of Fortescue Metals Group can be a strange place. It is seeking to raise $2.3 billion

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Fortescue under scrutiny as Australian crisis deepens

Michael Sainsbury Debt laden Fortescue Metals Group, the world’s fourth largest iron ore miner by production volume, is coming under growing market scrutiny amid slowing economic growth in China, the biggest importer of the commodity. Iron ore prices fell by more than half last year, from $134 in January to a low of $65.70 in

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Iron ore plunges to US$91.80, small miners facing losses

Michael Sainsbury As regular readers will know, Little Red Blog has, for quite some time been unfashionably bearish on both the Chinese economy and the iron ore price. So it’s with some relief that we can report that both are softening at the sort of rate we had expected but which most, at the start

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Iron ore miner Fortescue roars back from the brink

Michael Sainsbury It was with an air of triumph that Andrew Forrest, the billionaire founder of Fortescue Metals Group, opened the company’s fourth mine in late March. FMG is Australia’s third-largest iron ore producer; 400 select guests attended the ceremony for Kings, the new site in the country’s remote northwest. Australia’s third-largest iron ore producer,

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Talk is cheap: Abbott’s Asia trip missing the real opportunities?

Michael Sainsbury Prime Minister Tony Abbott has firmly cast his trip to North Asia to be all about trade and investment. There has been much focus on free trade agreements with South Korea, Japan and China, Abbott’s destinations this trip. But for all the hype the real value, business-to-business deals, seem to have been lost

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