Fortescue's CEO answers some of the tough questions on iron ore

Fortescue's CEO answers some of the tough questions on iron ore. Much of the debate around the iron ore space remains around how low the long term price can go. With BHP and RIO having both outlined capacity increase and cost reduction targets the spotlight is being placed on those producers with higher costs of production. A widely held theory is that these majors are deliberately squeezing the smaller and marginal producers out of the market. AFR have interviewed the CEO of Fortescue Metals and drilled into many of these prickly questions. Power says at current prices Fortescue is making good money and plans to further reduce production costs are on track. He answers questions around the companies profitability, the prospect of asset sales and speculation around the safety of his job (VIEW LINK)

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