PERTH (miningweekly.com) – Iron-ore major Fortescue Metals has refused to comment on speculation that the company was considering the sale of interests in some of its Pilbara assets to Chinese and Japanese firms.
Newswire Bloomberg at the end of last week reported that Fortescue had held discussions regarding an interest sale with a number of potential Asian investors, including Chinese State-owned steel and iron-ore group Baosteel.
The iron-ore miner has refused to be drawn on the issue, saying that the company held discussions with third parties on several issues, on a regular basis, and was always open to commercial discussions with current and potential partners.
The latest speculation around an Asian transaction followed on from reports in May that Chinese firms had applied to the Foreign Investment Review Board for permission to invest in Fortescue.
Fortescue also chose not to comment on those reports.
In March this year, the iron-ore major was forced to withdraw a $2.5-billion senior secured note offering and refinancing plan, blaming volatility in the US credit markets, which resulted in terms and conditions that did not meet the company’s cost objectives.