This co. is the real Iron Ore junior...no comparison.... an ABSOLUTELY GEM !
FMG 16.250 16.330 16.330 +0.330 16.120 16.400 16.050 256,842
FMG signs $93m machinery deal with Terex
Wednesday, 14 February 2007
TEREX has garnered a new customer after Fortescue Metals Group inked an order contract worth more than $93 million with the world's third-largest construction machinery manufacturer. Meantime, Fortescue's share price has recorded a new all-time high today.
Terex will supply fleets of both trucks and excavators to Fortescue to be "used in a major start-up iron ore mining operation in Australia".
Included in the order are 20 MT3700AC 205-tonne capacity trucks, three RH170 excavators and four RH340excavators.
The construction manufacturer plans to deliver the majority of the equipment during the second half of this year with some deliveries to take place in the first quarter of next year.
Fortescue's massive Chichester Range iron ore project is forecast to achieve shipments of 45 million tonnes of iron ore per year from late 2008 courtesy of the project's Cloud Break and Christmas Creek deposits.
Additionally, Fortescue's shares have jumped to reach a new all-time high of $16.15 in trading this morning, before cooling to settle at $16.06.
http://miningnews.net/storyview.asp?storyid=94170§ionsource=s0
fmg signs 93m machinery deal with terex
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