Subscribe to RSS feedBanks miss Fortescue deadline
by
Sam Collyer
—
last modified
Oct 08, 2009 04:10 PM
FORTESCUE Metals Group (FMG) has so far failed to raise the US$6bn it had hoped Chinese banks would contribute to its planned infrastructure expansion.
In August, the Pilbara iron ore producer agreed to a 35% price cut for the second half of 2009, in a move which undercut its rivals.
In exchange, Fortescue had sought Chinese backing by September 30 to fund expansion.
Chinese...
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