Very ODD for the Global Times (of the peoples daily - PRC government mouth piece) to seemingly downramping FMG. Considering Twiggys excellent relationship with the Chinese.
Why sound the alarm now when io spot price is around $115/t and climbing when China restocks, FMG debt repayment is significantly deferred and the peak capex has now passed just as the low cost production comes on line.
Could the Chinese be eyeing TPI perhaps to get Brockman Limo a rail solution? The timing of Brockman's attempt to undermine the TPI sale and an imminent FMG - AGO deal and this People's Daily article is no coincidence IMO.
http://www.globaltimes.cn/content/789319.shtml#.Ub7TsjeLBgk
..... The Chinese press has recently been abuzz with reports that FMG intends to sell part of its infrastructure assets to overseas investorsin order to easeitsdebt burden with Chinese investors supposedly a particular target.
Xu advised Chinese companies to use caution when evaluating FMG's assets and carefully consider the potential risks of investment.......
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