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Fortescue to Reduce Debt Funding on Strong Cash Flow, CFO Says
Apr. 12, 2011 09:39AM PST
Base Metals Investing Bloomberg reports that Fortescue Metals Group Ltd. (ASX:FMG) cash flow from high prices will reduce the amount of debt funding the company needs for its $8.4 billion expansion.
Bloomberg reports that Fortescue Metals Group Ltd. (ASX:FMG) cash flow from high prices will reduce the amount of debt funding the company needs for its $8.4 billion expansion.
The market news is quoted as saying,
Fortescue in November approved the expansion of its operations in the Pilbara region to triple output to 155 million metric tons as demand from China grows, adding mines, rail and port facilities. It had planned to raise about $4 billion in debt and the remainder through cash flow and reserves.