PERTH (miningweekly.com) – Iron-ore major Fortescue Metals has extended its on-market share buy-back programme by a further 12 months, until October 2020.
The company has also re-established the total amount of the buy-back programme at A$500-million.
The miner told shareholders that the buy-back programme remained an important part of the execution of Fortescue’s capital management strategy.
The extension of the buy-back programme would not require shareholder approval.