Summary: Fortescue chairman Andrew Forrest is unapologetic about his attempts to launch a review of the iron ore industry, despite criticism from the company’s rivals. Forrest is adamant that Fortescue will not only survive but prosper over the long term, due to the urbanisation of China and India. The chairman says he would take seriously any attractive proposal from an investor to buy a stake in one of FMG’s assets.
Key take-out: At “any iron ore price that the majors can survive at Fortescue will prosper,” Forrest says.
Key beneficiaries: General investors. Category: Iron ore.