Fortescue gets another wake-up call

For all the work it has done to cut costs and reduce debt, Fortescue still faces some tough challenges if the iron ore price remains depressed and it may need to raise a large amount of cash.

Had Fortescue Metals not had a glimpse into the abyss in 2012 it would probably have been in deep trouble at this point, with the iron ore price dipping below $US90 a tonne and no obvious source of relief in sight.

While the 2012 fall in the iron price below $US90 a tonne was short-lived, it galvanised Fortescue into major debt and cost-reduction programs.


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