Markets

Fortescue has grabbed a takeover-blocking stake in Atlas Iron

Billionaire Andrew Forrest’s pure play iron ore miner Fortescue Metals has acquired a 19.9% stake in Atlas Iron, enough to block Mineral Resources’s takeover. Fortescue announced it had agreed to acquire 15% of Atlas Iron at $0.04 a share, bringing its aggregate interest in the junior iron ore miner to […]
Fortescue has grabbed a takeover-blocking stake in Atlas Iron
Markets

Twiggy Forrest just had a $207 million pay day

Billionaire Andrew Twiggy Forrest just had a $207 million payout. That’s his share of the 20 cent a share dividend just announcement by his Fortescue Metals, a result fuelled by rising iron ore prices. Compare that to the same six months last year when dividends were just 3 cents a […]
Twiggy Forrest just had a $207 million pay day
Markets

Fortescue accelerates its relentless attack on costs

Billionaire Andrew “Twiggy” Forrest’s Fortescue Metals has achieved its target on cutting the cost of digging up ore earlier than expected. In its December quarter production report, the pure play iron ore miner put the cost per wet metric tonne at $US12.54, down 7% on the previous quarter and 21% […]
Fortescue accelerates its relentless attack on costs