09.07.2009 - BHP/Rio venture boosts Fortescue fortunes
From Guardian: The BHP-Rio deal raises the probability of China financing Fortescue's expansion, with China Investment Corp, a sovereign wealth fund being advised by Deutsche Bank, the most likely investor to offer funding, sources said. Fortescue would need $5.2 billion to more than double its annual output to 120 million tonnes in a next expansion phase, CLSA estimates. Fortescue is forecast to ship 26 million tonnes in fiscal 2009........Full Article: Source