Fortescue Metals Group Limited (FSUGY)
- Reuters
Top three Aussie miners to shed $11 billion in market value as commodity rout accelerates
Australia's big three miners were on track to lose more than A$16 billion ($11.12 billion) in combined market value on Monday at current levels, as a commodities selloff over easing China demand and fears of a global recession deepened. Rio Tinto's Australia-listed shares were set to shed nearly A$2 billion in value, BHP more than A$10 billion, and Fortescue Metals over A$4 billion. Lower output from Chinese steel mills has hit demand for iron ore, while prices of commodities like copper and aluminium have slumped on worries that aggressive interest rate hikes by the U.S. Federal Reserve's and other central banks could tip the global economy into a recession.
- Reuters
Miner Fortescue says it won’t shy away from countries with troubled human rights
Andrew Forrest, the chairman and founder of Australian miner Fortescue Metals, said on Tuesday he does not believe his company should shy away from investing in countries with troubled human rights records. Forrest, who returned to helm the company last month, cited the example of the Democratic Republic of Congo, where some cobalt mines employ slave labor. Cobalt is an important component in lithium-ion batteries used in electric vehicles, smart phones and laptops.
- Simply Wall St.
Fortescue Metals Group Limited's (ASX:FMG) Stock Is Going Strong: Is the Market Following Fundamentals?
Most readers would already be aware that Fortescue Metals Group's (ASX:FMG) stock increased significantly by 18% over...
