Fortescue Metals Group chief executive Elizabeth Gaines could be forgiven for entertaining a hint of schadenfreude as she fronts the iron ore miner’s investor day on Wednesday.
The rip in the iron ore price to a hefty $US145 a tonne thanks to a production downgrade by Brazil’s Vale is a welcome gift given Fortescue is scheduled to produce the first ore from its $US1.27 billion ($1.71 billion) Eliwana mine this month.
Loading...
Robert writes on companies and markets. He is a former New York and Shanghai correspondent, and has worked in Hong Kong. Email Robert at robertguy@afr.com.au
