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| The man who made a cool $5.3 billion last year thanks to the skyrocketing iron ore price says he expects the commodity to “trim down”, but investors shouldn’t be alarmed.
Fortescue Metals chairman and one-third stakeholder Andrew Forrest is now Australia’s third-richest person following an unprecedented 390 per cent rise in the company’s shares in the last 11 months. But all good things must come to an end, as the billionaire business leader outlined in an interview in Jakarta. “In the iron ore industry, in the steel industry and in particular the developing countries like Indonesia, India and China, we mustn’t fear low iron ore prices,” Mr Forrest said, according to Bloomberg. “I would say the iron price is more likely to trim down.” Source – www.theaustralian.com.au |
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