Fortescue Ltd (FSUMF)

[hotdawg]

Any one watching this one?

[stocktrademan]

FSUMF bullish 3.206

[Juschilln]

VALE partnership not making an impact here?

[futrcash]

Iron Ore Mining in the New Millenium-

http://www.smh.com.au/business/world-business/pay-dirt-20120528-1zdsx.html#ixzz20ATv379N

futr

[MikeSailMikeSail]

Fortescue Metals Group Ltd Joins OTCQX

Last update: 4/30/2012 10:06:00 AM

NEW YORK, April 30, 2012 /PRNewswire via COMTEX/ -- OTC Markets Group Inc. (otcqx:OTCM), the company that operates the world's largest electronic marketplace for OTC-traded equities, announced that Fortescue Metals Group Ltd (otcqx:FSUGY)(asx:FMG), the world's fourth largest iron ore producer, has chosen to have its American Depositary Receipts (ADRs) traded on the highest tier of the OTC market, OTCQX®.

Fortescue began trading today on the OTC market's prestigious tier, OTCQX International Premier. Investors can find current financial disclosure and Real-Time Level 2 quotes for the Company on .

"We are pleased to welcome Fortescue to OTCQX," said R. Cromwell Coulson, President and Chief Executive Officer of OTC Markets Group. "The OTCQX platform offers investor-focused companies a winning combination of quality control, transparency, and broader visibility to U.S. investors."

Citi will serve as Fortescue's Principal American Liaison ("PAL") on OTCQX, responsible for providing guidance on OTCQX requirements.

About Fortescue Metals Group Ltd

Fortescue Metals Group Ltd (otcqx:FSUGY)(asx:FMG) trades in the United States on OTCQX under the symbol "FSUGY", where each ADR represents 0.5 ordinary shares. Fortescue Metals is principally engaged in the operation of an integrated logistics chain starting with the mining of iron ore from Co.'s Cloudbreak mine site, the railing of product along Co.'s heavy haul rail line through to the loading of ships at the Co.'s port facility at Port Hedland. Co.'s second mine at Christmas Creek has commenced operations with product being trucked to the Cloudbreak ore processing facility for inclusion in the product blend. Co. also maintains an aggressive exploration and metallurgical program which is progressively developing tenement areas outside of the current mining sites.

About OTC Markets Group Inc.

OTC Markets Group Inc. (otcqx:OTCM) operates the world's largest OTC marketplace for equity securities. Our OTC Link® trading system delivers price transparency in over 10,000 securities and enables direct interaction between broker-dealers that provide liquidity and execution services. We organize the marketplace by categorizing the wide spectrum of OTC-traded companies into three tiers: OTCQX - The Intelligent Marketplace for the Best OTC Companies; OTCQB® - The Venture Marketplace; and OTC Pink® - The Open Marketplace. Our information-driven platform makes it easy for investors to trade at the best price through the broker of their choice and empowers companies to build the best markets for their investors. To learn more about our Open, Transparent, and Connected marketplace, visit .

Subscribe to the OTCQX RSS Feed

SOURCE OTC Markets Group Inc.

Copyright (C) 2012 PR Newswire. All rights reserved


News provided by Dow Jones NewswiresSM, PR News Wire and Business Wire. Dow Jones Newswires is a service mark of Dow Jones & Company. PR News Wire is a Trademark of PR Newswire Association, Inc. Business Wire is a registered trademark and service mark of Business Wire.

TD Ameritrade is not responsible for the quality and suitability of third party financial or investment information or services. Brokerage services provided by TD Ameritrade, Inc., member FINRA/SIPC/NFA. TD Ameritrade is a trademark jointly owned by TD Ameritrade IP Company, Inc. and The Toronto-Dominion Bank. All rights reserved. Used with permission.

[MikeSailMikeSail]

Australian shares ended on a firm note, as weaker data on the Chinese economy fueled the prospects for further monetary easing steps by Beijing to address its economic troubles. Both the benchmark S&P/ASX 200 and the broader All Ordinaries index ended up around a percent each.

Miners led the rally, with Rio Tinto climbing 2.3 percent, as commodity prices rose overnight despite a mixed batch of economic data. BHP Billiton gained 1.7 percent and smaller rival Fortescue jumped 4.2 percent. Lynas soared 7.8 percent after the High Court of Malaysia said it will not review a government decision that allows the company to operate a rare earths processing plant in the country.

[MikeSailMikeSail]

Analysts mull Fortescue Teck tie up April 11, 2012 09:05 AM



Analysts have been mulling the viability of a tie up between Pilbara focussed iron ore miner Fortescue Metals Group Limited (ASX:FMG) and Canadian miner Teck Resources.

Hot on the heels of Glencore and Xstrata’s proposed tie-up, analysts at Bank of America-Merrill Lynch claim a Fortescue and Teck merger “would be in the sweet spot”.

A Merrill research report says combining the companies would attract heightened demand for iron ore and coking coal from emerging economies such as Brazil, Russia, India and China.

The speculation comes after reports emerged in February Teck was the most likely buyer of a 2.89 per cent stake in Fortescue, worth about $480 million, and below the 5 per cent substantial shareholding threshold.

Fortescue Metals posted a net profit of $789 million in the first half of its 2012 financial year

[MikeSailMikeSail]

Australian shares eased slightly, as banks edged lower, offsetting gains in miners following improved Chinese manufacturing data. Both the benchmark S&P/ASX 200 and the broader All Ordinaries indexes erased their early gains to end down about 0.1 percent each. BHP Billiton, the world's largest mining company whose fortunes are tied to China's economic growth and consumer demand, rose 1.5 percent, Rio Tinto added 1.2 percent and smaller rival Fortescue rallied 2.4 percent.

The big four banks, Commonwealth, NAB, Westpac and ANZ shed between 0.3 percent and 0.9 percent, spooked by weaker-than-expected building approvals and manufacturing data ahead of the Reserve Bank of Australia's rate-setting meeting tomorrow. Retail stocks also lost ground, with Woolworths, JB Hi-Fi and Myer falling 1-3 percent, while oil & gas firm Woodside gained 1.6 percent and Oil Search closed up a percent.

Australia's manufacturing activity contracted in March, pressured by a stronger currency and weak domestic demand, a private survey showed. The Australian Industry Group/PriceWaterhouseCoopers Australian Performance of Manufacturing Index fell 1.8 index points to 49.5 in the month after three months of growth.

Approvals for new homes, meanwhile, slumped a seasonally adjusted 7.8 per cent in February from the previous month, data released by the Australian Bureau of Statistics showed, marking the steepest fall in approvals since November last year.

[MikeSailMikeSail]

Australian shares fell, giving up initial gains, as the prospects of slowing growth in the world's two largest economies dragged down mining and energy shares. However, the downside was limited as a weaker Australian dollar, weighed down by lower commodities and disappointing U.S. economic data, boosted the outlook for company earnings. The benchmark S&P/ASX 200 slipped 0.1 percent, while the broader All Ordinaries index shed 0.2 percent.

Index heavyweight BHP Billiton lost a percent and smaller rival Fortescue tumbled 2.2 percent. Rio Tinto edged down 0.3 percent after saying that it had entered into exclusive talks with US-based private-investment firm HIG Capital to sell its specialty alumina business in Europe.

Energy shares followed their U.S. peers as news of a surge in U.S. Crude inventories and reports that the U.S., the U.K., Japan and France are preparing for a potential release of their strategic oil reserves in the next few months weighed on Crude prices overnight. Woodside Petroleum shed 1.3 percent and Oil Search tumbled 2.1 percent.

Leighton Holdings slumped 6.7 percent to a 10-week low after the construction firm cut its 2012 profit forecast by as much as 38 percent, citing problems associated with its Airport Link and Victoria desalination projects. The big four banks ended mixed, with Westpac losing 0.3 percent and ANZ closing unchanged, while Commonwealth and NAB rose modestly

[MikeSailMikeSail]

Australian shares ended Sharply higher at a four-month high, with banks outperforming the broader market after the Reserve Bank of Australia said in its financial stability review that Aussie banks are in relatively good shape. ANZ, Commonwealth, NAB and Westpac all ended up around a percent each. Investment bank Macquarie Group gained 1.3 percent and insurer QBE ended 1.7 percent higher.

The benchmark S&P/ASX 200 ended the session up 1 percent at 4,343, its highest closing level since November 9, 2011, while the broader All Ordinaries index advanced 0.9 percent.

Miners also ended on a firm note, reversing early losses. BHP Billiton gained half a percent, Rio Tinto added 0.7 percent, Fortescue rallied 2.1 percent and gold miner Newcrest jumped 2.9 percent. Brambles rose 1.3 percent after the pallet supplier said that the sale of its Recall information management business is taking longer than initially expected. Telecom giant Telstra rose 1.6 percent amid reports that it plans to reduce the number of union agreements covering its 35,000 employees from 60 to only one.

[MikeSailMikeSail]

Australian shares gave up early gains to end slightly lower, as weakness among retailers outweighed strength in the banking sector. The benchmark S&P/ASX 200 slipped 0.2 percent and the broader All Ordinaries index shed 0.1 percent. Miners ended on a mixed note, with BHP Billiton falling 0.6 percent and Forescue losing 1.3 percent, while Rio Tinto edged up marginally.

The big four banks gained ground, with ANZ, NAB and Westpac all rising around 0.3 percent, while Commonwealth advanced 0.7 percent. Shares of Bank of Queensland were in a trading halt ahead of a planned $450 million capital raising through a discounted share offering.

Retailers such as Woolworths and Wesfarmer fell between 0.2 percent and 0.3 percent, oil & gas producer Woodside Petroleum dropped 0.7 percent and Santos shed 0.4 percent. Qantas Airways rose 2 percent after the airline announced plans to set up a budget airline in China under a new management with China Eastern Airlines. Leighton Holdings rallied 2.7 percent on winning new contracts.

[MikeSailMikeSail]

UPDATE: Fortescue Expects $3.6 Billion Solomon Contract Decision Soon


Fortescue Metals (ASX:FMG)
Historical Stock Chart

1 Month : February 2012 to March 2012

Australian iron ore producer Fortescue Metals Group Ltd. (FMG.AU) said Friday it expects to make a decision on a $3.6 billion mining contract for its Solomon project in the coming weeks, although it may instead opt to operate the planned mine itself.

The Perth-based company said it is in discussions with shortlisted contractors over a possible five-year contract to provide mining services at Solomon, but it is also looking at an owner-operator alternative should it be unable to negotiate a satisfactory agreement.

Separately, Leighton Holdings Ltd. (LEI.AU) said it was negotiating with Fortescue for mining work. Both companies said they would provide further details when a decision has been made.

Fortescue, Australia's third-largest producer of iron ore after Rio Tinto PLC (RIO) and BHP Billiton Ltd. (BHP) by volume, is investing an estimated US$8.4 billion to roughly triple production to 155 million metric tons a year by mid-2013.

It began construction on the first phase of its 60 million ton a year Solomon mining operation last year.

-By Robb M. Stewart, Dow Jones Newswires; [phone]; [e-mail]

[MikeSailMikeSail]

Australian shares pared early losses to end little changed, as losses in the resources sector in reaction to weak Chinese and European manufacturing data offset gains in exporters. Both the benchmark S&P/ASX ended down around 0.1 percent each.

Among the top miners, BHP Billiton, Rio Tinto, Fortescue and Newcrest fell between 1.2 percent and 1.5 percent. QR National dropped 3.1 percent after the rail operator cut its full-year earnings forecast, citing an ongoing industrial action. Shares of paper merchant PaperlinX plunged 20 percent after a move by disgruntled shareholder to oust its chairman failed.

Among healthcare firms, Ramsay Health Care rallied 3.1 percent and CSL rose 1.6 percent as investors sold the Australian dollar to hedge against the possibility of a Chinese hard landing. Leighton Holdings edged up 0.4 percent as the company said it's been in negotiations with Fortescue Metals Group to undertake contract mining work.

[MikeSailMikeSail]

Fortescue Fpo (FMG)
6.05 ?0.12 (2.02%)
Volume: 23,217,612

[MikeSailMikeSail]

Fortescue 1st Half Profit Surges On Strong Iron Ore Sales
Fortescue Metals (ASX:FMG)
Historical Stock Chart

2 Months : January 2012 to March 2012

Fortescue Metals Group Ltd. (FMG.AU), one of the world's largest iron ore producers, Wednesday reported a more than doubling of its first-half profit as it continued to ramp up shipments of the steelmaking commodity.

Net profit jumped to US$800.8 million in the six months through December from A$314.1 million a year earlier, while revenue increased 82% to US$3.36 billion from US$2.53 billion.

The Perth-based company said it had declared a half-year dividend of 4 Australian cents a share, compared with a maiden interim dividend of 3 cents a year earlier.

"This record interim profit result sets the foundations for what will be a watershed year for Fortescue," said Neville Power, who took over as chief executive from founder and now Chairman Andrew Forrest in August.

The company said it remained on track to ship 55 million metric tons of iron ore this financial year, despite a cyclone in early January that forced the temporary closure of Port Hedland on Australia's west coast. It said it now expects to ship between 13 million and 13.5 million tons this quarter, rather than the previously forecast 13.75 million.

The cyclone also has delayed work on a fourth berth at Port Hedland which, with the need for additional housing in the area, will mean a cost of about US$200 million, the company said.

Fortescue was formed in 2003 and has quickly grown into the third-largest supplier of iron ore from Australia's remote Pilbara region, which accounts for roughly 40% of the world's trade in the steelmaking ingredient by sea. The company took on large amounts of debt to develop mining operations and build a railway to rival those belonging to Rio Tinto PLC (RIO) and BHP Billiton Ltd. (BHP).

It has plans to invest an estimated US$8.4 billion to boost output to 155 million metric tons a year by mid-2013. Fortescue said that target remains on track.

-By Robb M. Stewart, Dow Jones Newswires; [phone]; [e-mail]

Order free Annual Report for BHP Billiton plc

Visit http://djnweurope.ar.wilink.com/?ticker=GB0000566504 or call [phone]

Order free Annual Report for Rio Tinto PLC

Visit http://djnweurope.ar.wilink.com/?ticker=GB0007188757 or call [phone]

[MikeSailMikeSail]

Australia, N.Z. Stocks: BHP, Fortescue, Myer, Newcrest, Rio


By Elisabeth Behrmann on March 15, 2012

Australia’s S&P/ASX 200 Index (AS51) fell 0.2 percent to 4,277.80 at the close of Sydney trading. New Zealand (ANZ)’s NZX 50 Index gained 1 percent to 3,533.73 in Wellington.

The following are among the most active shares today. Stock symbols are in parentheses after company names.

Newcrest Mining Ltd. (NCM) , Australia’s biggest gold producer, fell 3.3 percent to A$30.27 after gold prices dropped to the lowest level since Jan. 13. Smaller rival Oceanagold Ltd. (OGC) lost 4.5 percent to A$2.32.

Myer Holdings Ltd. (MYR) dropped 3.4 percent to A$2.29 after Australia’s largest department-store operator said first- half earnings fell 18 percent as sales declined.

Fortescue Metals Group Ltd. (FMG) rose 2.6 percent to A$5.98 after Australia’s third-biggest iron-ore producer doubled the size of a junk bond sale to $2 billion to help fund its expansion as well as the purchase of mining vehicles and equipment.

BHP Billiton Ltd. (BHP) dropped 1.2 percent to A$35.18. The London Metal Exchange LMEX Index fell 1.1 percent yesterday, with copper prices falling the most in a week on concern demand will ease after China, the biggest consumer, affirmed plans to prevent a housing bubble. Smaller rival Rio Tinto Group (RIO AU) fell 0.6 percent to A$64.93.

To contact the reporter on this story: Elisabeth Behrmann in Sydney at [e-mail]

To contact the editor responsible for this story: Rebecca Keenan at rkeenan5@bloomberg.n

[MikeSailMikeSail]

UPDATE: Fortescue Metals Launches $1 Billion High-Yield Bond
7:09p ET March 13, 2012 (Dow Jones) UPDATE: Fortescue Metals Launches $1 Billion High-Yield Bond

--Fortescue launches US$1 billion high-yield bond offering
--The offering will help fund the expansion of its iron-ore operations
--Other major mining companies have tapped bond markets in recent months

(Adds detail in the first to third paragraphs, background from fifth paragraph)

By Robb M. Stewart
Of DOW JONES NEWSWIRES

MELBOURNE (Dow Jones)--Fortescue Metals Group Ltd. (FMG.AU) said Wednesday it plans to raise US$1 billion with a high-yield bond offering to help fund the expansion of its iron-ore operations in Western Australia.
The Perth-based company in a statement said it and its subsidiaries have launched a bond offering of senior unsecured notes. A spokesman declined to give further details.
The money will be used to help fund Fortescue's plans to expand its production capacity in the remote Pilbara region to 155 million metric tons a year of the steelmaking commodity by mid-2013 from about 55 million tons currently, including the purchase of trucks, excavators, light vehicles and other equipment.
Fortescue was formed in 2003 and began construction of its first mining, port and rail operations in 2006, but has quickly grown to become Australia's third-largest producer of iron ore after Rio Tinto PLC (RIO) and BHP Billiton Ltd. (BHP).
BHP last month raised US$5.25 billion in a five-part bond offering, having raised US$3 billion three months earlier. Rio in September priced US$2 billion in five-, 10- and 30-year bonds.
Fortescue last sold bonds in October when it issued US$1.5 billion of 8.25% eight-year senior unsecured notes.

-By Robb M. Stewart, Dow Jones Newswires; [phone]; [e-mail]

(END) Dow Jones Newswires
03-13-12 1909ET
Copyright (c) 2012 Dow Jones & Company, Inc.BT201203130110072012-03-13 23:09:00.0001S2RU89T921BEV0AFAM01U6DDCDJNF

[MikeSailMikeSail]

China's economy will likely expand 8.3% in 2012 to stand out among the world's largest economies, credit-ratings firm Standard & Poor's forecast in a report. The economy will beat Beijing's own lowered forecast of 7.5%, fueled by "local governments' penchant for growth and policymakers' increasing support to small and midsize enterprises," S&P said. Even so, potentially adverse developments in the European Economic and Monetary Union and the Middle East could threaten the mainland's expansion, S&P cautioned.

Copyright © 2012 MarketWatch, Inc.


Read more: http://www.foxbusiness.com/markets/2012/03/14/china-gdp-forecast-to-grow-83-in-2012-sp/#ixzz1p61Fe6td

Very Good For Iron ORE exports for FMG

[MikeSailMikeSail]

What I do not understand is 'Fortescue Metal Group, Ltd trade in the USA under tickers FSUMF and FSUMY?

[futrcash]

Interesting Company-

http://seekingalpha.com/article/424201-get-on-board-the-iron-ore-train

http://www.fmgl.com.au/About_Fortescue/Company_Overview

futr

[BeardOfWallSt]

Looks like a buy.

[Mr Wowza]

Really 100m bought or sell at 5.14 how much money ?

[mel55]

Response from FMG Investor relations

Fortescue Metals Investor Relations

[mel55]

Question to FMG Investor Relations;

1. Since Harbingers initial share sale was BEFORE the RSPT announcement, did they actually cite the reason for selling the remainder of their stake in FMG specifically related to "sovereign risks" as a result of the RSPT or was this assumed?

2. Any other major shareholders of ours express concerns and intent to sell down? I note that Leucadia has also been reducing their stake.