Tag Archives: BHP Billiton

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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Iron ore tumbles as China slows

Michael Sainsbury Tightening credit conditions in China, high steel inventories and surging supply on March 10 triggered iron ore’s biggest one-day fall in more than three years. Big ore producers, including Rio Tinto and BHP Billiton, brushed aside concerns about slowing demand from China, dismissing the decline in prices as temporary. Chinese steel industry representatives, however,

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