Fortescue Metals shares in trading halt

摘要

The company has been under pressure to meet its debt obligations since the price of iron ore dropped below 100 dollars/mt. Last week, Fortescue said it would cut its production to 82 million-84 million mt next year and trim capex to 4.6 billion dollars-from 6.2 billion dollars-by deferring a mine expansion in the Pilbara and completion of a berth project because of uncertainty over iron ore prices.