Shares in iron ore miner Fortescue have jumped five per cent following a report two Chinese firms were eyeing the company's assets.
A media report on Tuesday suggested China's Hebei Iron & Steel Group and Tewoo Group had approached Fortescue about taking a stake in its infrastructure assets, which include mines, rail and port operations.
In response, Fortescue shares had jumped 9.5 cents to $1.87 as of 1545 AEST.
Fortescue has publicly said it is open to selling part of its assets, but issued a statement on Wednesday saying it has not reached any agreements with potential investors.
The company's shares shares have been under pressure for the past 12 months due to a slide in the iron ore price as rivals like Rio Tinto and BHP Billiton continue to ramp up production in the face of waning demand from China.
Share
