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.


{{ twilioFailed ? 'SMS Code Failed to Send…' : 'SMS Code Sent…' }}

Hi {{ user.FirstName }}

Looks like you've already taken a free trial

Please enter your payment details

We have sent you a code via SMS to {{user.DayPhone}}

please enter this code below to activate your membership

We cannot send you a code via SMS to {{user.DayPhone}}

If you didn't receive SMS code please

SMS code cannot be sent due to: {{ twilioStatus }}

Please select one of the options below:

Looks you are already a member. Please enter your password to proceed

Please untick this box when using a public or shared device

Verify your mobile number to unlock a FREE trial

Please sign up for full access

Updating information

Please wait ...

  • Mastercard
  • Visa

The email address you entered is registered with InvestSMART.

Please login or select "Don't know password"

Please untick this box when using a public or shared device

Register as a new member

(using a different email)

Related Articles