Land grab

摘要

The colourful Andrew Forrest was in fine form at this year's RIU Sydney Resources Round-up gig as he explained why Ms company -- Fortescue Metals Group Ltd -- should still be considered "the new force in iron ore", despite the recent toning down of China's expected involvement in the junior's multi-billion dollar minerals play in WA's Pilbara. From all indications the key to the project's ultimate success now lies with the geology of the various deposits FMG is hoping to develop which, contrary to popular belief, are not simply discards of the publicly-listed Rio Tinto and BHP Billiton. "While we now notice that those in the industry near us have always claimed that they have got heaps of iron ore resources or reserves -- and who are those upstarts at Fortescue?-- what we do know is that there has been a pegging rush all around us by some of those big names in the industry in the filling in of the gaps between our tenements," Forrest noted.