Fortescue Defends $6 Billion Debt

Reuters reported Fortescue Metals (ASX:FMG) defended its decision to take on $6 billion in debt for expansion.

As quoted in the market news:

Andrew Forrest, who is also the firm’s founder, was speaking after several hedge funds sold Fortescue shares short on bets that iron ore prices will continue falling as China’s economy continues to cool, crimping its demand for raw materials.

Click here to read the full Reuters report.