Business
Fortescue dubious on Brazil rebound as iron hits decade high – The Australian Financial Review
Fortescue says Chinese iron ore stockpiles are headed towards a 4½-year low in the new year as the price topped $A200 a tonne.
Fortescue relied upon the Asian superpower for 94.5 per cent of its revenue last year, the miner’s second-biggest shareholder is a Chinese state-owned entity, it has two Chinese directors on its board, three Chinese registered subsidiaries and it opened a new office in Shanghai in January.
“Our trading success is built on strong partnerships and it is important we maintain good relationships with existing trade markets such as China, which accounted for 87 per cent of all iron ore exported from…
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