Fortescue denies talks with Chinese investor
Australian iron ore miner Fortescue Metals Group has denied a Chinese report that it may sell a stake to a Chinese sovereign wealth fund. The South China Morning Post reported that Fortescue chairman Andrew Forrest was talking to China Investment Corp, which may in turn look to involve Baosteel Group and coal miner China Shenhua Energy in any subsequent deal.
Forrest was recently in China but said his visit did not involve discussions on raising additional capital from Chinese investors. The Perth-based miner confirmed this on 17 November, saying it did not require any new capital or equity.
needs to hang on here, page-7
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