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FORTESCUE Metals Group chief executive Andrew Forrest says it is a “mathematical certainty” FMG will be unable to raise additional debt to expand its Pilbara iron ore operations if the federal government’s resources super-profits tax goes ahead.
In a teleconference this afternoon, Forrest told journalists his company’s bankers have refused point blank to extend FMG’s debt to fund the Solomon and Western Hub if the new tax is introduced.
Could FMG's sky-high share price easily fund expansion, perhaps into copper?
Rupert Resources on a Roll at Ikkari
Rupert Resources on a Roll at Ikkari
