According to Forbes.com the FMG chairman ranks first in Australia and 145 on the list of 1125 global billionaires, with a net worth estimated at $US6.5 billion ($A6.94 billion).
FMG was up almost 10% in intra-day trade, up A69c to $8.39, before cooling 11c to close at $8.28.
The S&P ASX-200 climbed out of negative territory closing at 5435.5 points, up over 1% or 58.9 points.
Commodities again demonstrated their ongoing volatility, with base metals recouping yesterday’s losses and spot gold pushing to yet another record.
The precious metal rebounded to $US988.6 per ounce overnight.
The exception was lead, with its spot price finishing half a percent down at $3350 per tonne.
Zinc fared well with its spot price rising 1.32% or $36.50/t to $2799/t, yanking most of the Australian zinc plays into the green.
Zinifex gained A20c to $A11.20, Kagara was up 24c to $5.60 and junior play TNG gained 2.5c or 10% to 27.5c.
Iron ore giant Rio Tinto stayed in positive terrain today rising $2.25 (1.68%) to close at $136.
The company today finalised the sale of its 40% interest in the Cortez gold mine, in the American state of Nevada, to Barrick Gold for almost $US1.7 billion ($A1.84 billion).
Rio’s predator BHP Billiton was also in the green, up A77c (1.97%) to end the day at $39.80.
Meanwhile, aluminium-focused Chinese investor Aluminium Corporation of China (Chinalco) claimed it had no immediate plans to raise funds for overseas acquisitions.
Chinalco pre-empted BHP last month by snatching at 9% stake in Rio for $US14 billion ($A15.5 billion).
In keeping with the local market’s current volatility, today’s biggest percentage loser was yesterday’s chief gainer.
Junior iron ore explorer Brockman Resources plunged 26.67% or 80c, shedding $1 from yesterday’s $3.20 peak to end today at $2.20.
Brockman rocketed 183.19% to $A3.20 from $1.13 in trade yesterday, after reporting a 1.1-billion tonne resource at its Western Australian iron ore project.
Perth-based Midas Resources’ special touch propelled the company to the top of the ranks to finish as the day’s largest gainer.
Midas shares soared over 50% or $3.90 to end the day at $11.50.
