BC Iron has formalised a landmark JV agreement with Fortescue Metals Group (FMG) that puts BC Iron on track to become Australia’s newest iron ore producer in early 2010.
The agreement will see the two companies establish a joint venture to develop BC Iron’s Nullagine Iron Ore Project in Western Australia’s Pilbarra region.
The formation of the [...]

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FORTESCUE Metals Group did not mislead investors about binding agreements with Chinese parties because investors knew that its Pilbara iron ore project was in its infancy, a court has heard.
The Australian Securities and Investments Commission has alleged Fortescue engaged in misleading and deceptive conduct by overstating the nature of deals with three state-owned Chinese companies [...]

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Iron Ore producer , Fortescue Metals Group Ltd,  has suspended about two thirds of its long-term shipping contracts as its Chinese customers take advantage of cheaper rates stemming from the commodities slump.
 
Fortescue said on Friday that it was suspending all long-term cost and freight (CFR) shipping contracts, whereby the miner covers transport costs and passes [...]

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Fortescue Metals Group Ltd is a step closer to obtaining access to railways owned by BHP Billiton Ltd and Rio Tinto Ltd after Treasurer Wayne Swan ruled they should be opened to third parties.
Rio Tinto Ltd, the world’s second largest iron ore producer, says it is disappointed by the federal government’s decision to allow third-party [...]

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