Business
Record breaking Fortescue flags export boost – The Australian Financial Review
The iron ore miner capped its perfect year with a stronger than expected export performance and vow to do it again next year.
Shares in the miner were 2.23 per cent higher in morning trade, marking yet another record high for the stock.
Fortescue shares have risen more than ten-fold since they were fetching $1.62 at the cyclical bottom of the commodity market in February 2016.
The strong operational performance was marred by news that development of the Eliwana mine would cost up to $US100 million more than previously thought.
Fortescue said Eliwana would now cost between $US1.325 billion and $US1.375 billion, up fr…
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