Australian Mining Major FMG to Buy Eight Iron Ore Vessels
PERTH, AUSTRALIA--July 24, 2014--Researched by Industrial Info Resources Australia (Perth, Australia)--Australia's third-largest mining major, Fortescue Metals Group Limited (ASX:FMG) (Perth, Australia), plans to buy eight massive iron ore export vessels from China, which will double its fleet at an estimated cost of more than AU$580 million (US$548 million). Four very large ore carriers are expected to be delivered in late 2017, in addition to four ships to be delivered in late 2016 under a separate agreement, valued at AU$275 million (US$260 million).
Within this article: Details on plans by Fortescue Metals Group to buy eight iron ore vessels, with costs, capacities and delivery dates.
