Fortescue hoses down asset sale talk

Iron ore miner Fortescue has hosed down a media report suggesting it was considering selling a 20% stake in its Chichester hub to Chinese buyers.

Fortescue Metals Group has played down speculation that it is considering a $2 billion-plus sale of its Chichester hub in Western Australia's Pilbara.

The iron ore miner's managers are understood to have been in talks recently about a Chinese company buying a 20 per cent stake in Chichester, The Australian reported on Tuesday.

But Fortescue says while it is open to commercial talks with a range of groups, no deal has been done.

"Fortescue's position is unchanged, there is no agreement of such nature with any party at this time," the company said in a statement.


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Source: AAP


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