fortescue expansion plans to cost $6.2b, page-3

  1. 3,271 Posts.
    Strong outlook for iron ore price: Fortescue

    Alex Wilson From: Dow Jones Newswires March 12, 2010


    FORTESCUE Metals Group said it sees a strengthening outlook for iron ore prices with China's ability to meet its own requirements declining fast.
    In a presentation to investors, the miner also said its iron ore operations in Western Australia are running at a rate of 40 million tonnes a year and it is aiming to increase this to 55 million tonnes in 12 months.

    The Perth-based company said a feasibility study on plans for its 60 million tonne a year Solomon operation is nearing completion.

    Fortescue said the capital expenditure on the Solomon project was likely to total $3.2 billion and that a second stage project to add an extra 100 million tonnes a year would cost about $5.7bn.
 
Add to My Watchlist
What is My Watchlist?
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)
Last
$16.23
Change
-0.110(0.67%)
Mkt cap ! $49.97B
Open High Low Value Volume
$16.15 $16.45 $15.94 $102.0M 6.282M

Buyers (Bids)

No. Vol. Price($)
6 45600 $16.23
 

Sellers (Offers)

Price($) Vol. No.
$16.30 12800 3
View Market Depth
Last trade - 16.20pm 08/07/2025 (20 minute delay) ?
FMG (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.