Fortescue May Revive Iron Mine Plan

Reuters reported Fortescue Metals Group (ASX:FMG) may be able to revive a plan to triple its iron ore capacity, it said on Monday.

As quoted in the market news:

Fortescue last month slammed the breaks on plans to expand its capacity to 155 million tonnes following a sharp and prolonged slide in iron ore prices to a three-year low of $87 a tonne, a price at which the company would have struggled to manage its then $11.7 billion debt load.

Click here to read the full Reuters report.