FMG makes move into natural gas sector

摘要

AUSTRALIA'S third-largest iron-ore producer, Fortescue Metals Group (FMG), has diversified its single commodity portfolio to include natural gas by becoming a cornerstone investor in fellow Australia-listed Oil Basins Ltd. As part of the deal, FMG will invest A$4.2 million (US$4.3 million) for an 18% stake in the gas minnow, which had a market capitalisation of approximately A$17.5 million before Thursday's announcement.