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US investor stakes claim in Fortescue

US investor stakes claim in Fortescue

Photo by Bloomberg

5th February 2015

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – US investment firm The Capital Group Companies has taken a 5.02% shareholding in iron-ore major Fortescue Metals, announcing on Thursday that it had paid an average price of A$2.34 a share.

Fortescue shares were trading at a high of A$2.55 on Thursday.

The iron-ore miner recently reported that 43.6-million tonnes of ore had been mined during the quarter ended December, up 2% on the previous quarter. About 41.1-million tonnes of ore were shipped during the same period.

For the full year, Fortescue expected to produce and ship between 155-million tonnes and 160-million tonnes of ore.

Edited by Creamer Media Reporter

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