Fortescue Metals Group
Fortescue Metals Group (FMG) is an iron ore explration company which owns significant iron-ore resources and it is a provider of necessary infrastructure. FMG listed on ASX on 19th of March 1987. During the fiscal year ended June 30, 2007, the company had been exclusively focused on the development of the Chichester Range project situated in the Pilbara region of WA. This project encompasses the construction of a $550M mining and processing facility, a 520km $830M railway system and a $470M port in the Pilbara region of Western Australia.
Mining company, Fortescue Metals (ASX:FMG) has announced its first half results to the sharemarket.
- Fortescue Metals Group Net Profit US$478 million, down 40 percent from US$801 million in the previous corresponding period.
- Revenue was $US3.301 billion, down 2 percent from $US3.357 billion.
Fortescue Metals (ASX:FMG) has sealed a $1.4 billion deal with Leighton Contractors (ASX:LEI) to deliver a five year full service mine management with a possible two year extension.
- The five year full service is for its Firetail iron ore deposit at Solomon in Western Australia's Pilbara region.
After facing debt turmoil Fortescue Metals (ASX:FMG)is awarded a new debt financing deal from Credit Suisse and JPMorgan.
- $US4.5 billion (AUD$4.3 billion) debt facility refinancing deal is underwritten by Credit Suisse and JPMorgan.
- SMH reports that Deutsche Bank's analysts estimated Fortescue now had available funds of $US6.7 billion after the deal.
Fortescue Metals (ASX:FMG) is seeing debt fears affect its share price on the ASX stockmarket. The shares closed yesterday at a three year low, down 48 cents to $2.99.
- Share prices fell as reports hit the market about Fortescue requesting waiver for all debt covenants for the next 12 months.
- After ASX stockmarket closed, FMG released an announcement:
Iron ore miner, Fortescue Metals (ASX: FMG) have released their full year financial results for FY 2012 to the ASX stockmarket.
- Full year net profit US$1.6 billion, up 53 percent.
- Record revenues $6.7 billion.
- operating sales revenue up 41 percent to $US6.7 billion ($A6.40 billion), last year: $US5.4 billion ($A5.16 billion).
- Iron ore mined: 60 million tonnes (up 46 percent)
Fortescue Metals (ASX:FMG) is raising US$1.5 billion in junk bonds to fund their expansion in iron ore operations in Western Australia to 155 million tons per annum (mtpa).
The securities issued by FMG are eight year notes at 8.25 percent interest and are callable after four years. The amount was raised by a subsidiary: FMG Resources (August 2006) Pty. Ltd. The previous expansion to 55 mtpa was completed in June 2011.
Fortescue Metals (ASX:FMG) chief Nev Power expressed his disappointment with the company's share price and is out to boost this price by ending scepticism.
Power said the price will rise when the sceptics have heard the iron ore miner's story. While he believes that the share price did well, he said it should have done better.
Newly minted Fortescue Metals (ASX:FMG) chief executive New Power is aligning himself with businesses against the Gillard government's handling of the economy.
He said the government should not focus on taxation alone, but it should also raise revenue through growth.
Fortescue Metals (ASX:FMG) and US equipment titan Caterpillar have teamed up to use automation at the miner's proposed Solomon iron ore mine. The two companies signed the agreement yesterday, with the participation of a Caterpillar dealer, WesTrac.
![RSS - Fortescue Metals Group Syndicate content](http://www.mysharetrading.com/misc/feed.png)
- How to Trade Forex and Gold Options
- How to Trade the Gold Price and Profit!
- Forex Trading the EUR/USD Pair € EURO and $ US Dollar
- How to Trade Stock Market Indices S&P500
- How to Trade Crude Oil
- Forex Trading Psychology
- What Are Broker Recommendations?
- Free Tickets to Trading & Investing Seminar & Expo ($18) Brisbane 2013
- Stock Calc App
- All About Warrants
- Introduction to Exchange Traded Funds
- Introduction to Exchange Traded Funds: Features
- Introduction to Exchange Traded Funds: Domestic ETFs
- Introduction to Exchange Traded Funds: International ETFs
- Exchange Traded Commodities
- Australian Stock Scan
- Australian Online Share Trading
- List of Trading Books
- Interesting Thoughts about the Australian Dollar
- What's the Meaning of Hawkish?
- Do You Know How To Use the P/E Ratio
- Trading, Religion and Politics - Do They Have Anything in Common?
- Shares that are Volatile that Double and Half in the Short Term
- Telstra (TLS) T3
- Margin Call by E-mail
- The Cost of Holding a Position
- Lack of Disclosure: Compensation from ASX Listed Company
- Unrealistic Returns and Benchmarks
- CMC Markets Down
- Quality versus Quantity Forex Trading
- Woolworths 1H Sales $30.7bn up 3.2%
Date added 31-01-2013 - ASIC Fines CommBank's CommSec
Date added 25-09-2012 - Industry Super Network Calls to Ban High Frequency Trading (HFT)
Date added 22-09-2012 - NAB Launches Online Share Trading Platform
Date added 19-09-2012 - Reserve Bank of Australia Says 23 Countries Holding AUD
Date added 18-09-2012 - Australia Post Digital Mailbox
Date added 10-09-2012 - Winners and Losers of Trading for Week 2
Date added 16-01-2012 - 2012's First Week of the Best and Worst Traded Stocks
Date added 09-01-2012 - 2011's Last Best and Worst Traded Stocks
Date added 05-01-2012 - Best and Worst Pre-Christmas Traded Stocks
Date added 30-12-2011 - Trading Winners and Losers for Dec. 12-16
Date added 19-12-2011 - Best and Worst Traded Stocks for Dec. 5-9
Date added 13-12-2011 - Top 3 Best and Worst Traded Stocks
Date added 05-12-2011 - ASX Glitch Trading Halt
Date added 27-10-2011 - Worst Trade Stocks (and the Best)
Date added 06-08-2011
Top 150 Public Companies Listed on the Australian Stockmarket as at 29/05/2009
- BHP Billiton
- Westpac Banking Corporation (WBC)
- Commonwealth Bank of Australia (CBA)
- National Australia Bank (NAB)
- Telstra (TLS)
- ANZ
- News Corporation (NWS)
- Woolworths Limited(WOW)
- Woodside Petroleum Limited (WPL)
- Rio Tinto
- Westfield Group (WDC)
- Westfarmers Limited (WES)
- QBE Insurance
- CSL
- Newcrest Mining Limited (NCM)
- Origin Energy Limited (ORG)
- Santos Limited (STO)
- AMP Limited (AMP)
- Macquarie Group (MQG)
- Foster’s Group Limited (FGL)