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Miners’ woes may prompt consolidation rush

Posted on 10 September 2012

Media speculation that Andrew Forrest’s Fortescue Metals and Gina Rinehart’s Roy Hill iron ore project might share the costs of building a railway rather than construct separate rail lines is a sensible idea but not new.
Members of the Fortescue board have discussed the issue on a number of occasions over the past couple of years but the proposal failed to get anywhere.Still, with the first stage of the mining boom fading fast - iron ore prices are falling, costs remain too high, and raising finance is becoming increasingly difficult - a deal between the billionaires Rinehart and Forrest might not be out of the question………………………………………..Full Article: Source


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