Posted on another thread
Where there's smoke is there fire??
Fortescue Metals boss says miner can survive iron ore purge
Posted 56 minutes ago Thu 29 Jan 2015, 7:00pm
Iron ore miner, Fortescue Metals, says it is a takeover target but it's not being circled by global miner, Glencore, which was rebuffed last year by Rio Tinto. Fortescue chief executive, Nev Power, says the miner's latest production report shows it's cutting costs and the lower Australian dollar and falling oil price have helped the bottom line. Iron ore miners are under pressure because oversupply has pushed prices down to a more than five year low around $US 63 a tonne.
Nev says FMG is a takeover target, page-2
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