Australia's Fortescue sells half of Nullagine iron ore stake

摘要

Fortescue Metals Group said Monday it would sell half of its 50% stake in the Nullagine iron ore joint venture with BC Iron in Western Australia for A$190 million ($199 million) and use the funds to progress its Solomon project. The two Perth-based companies entered into the 50:50 Nullagine JV late in 2009, with BC Iron selling half of the project to FMG in return for access to its port and railway facilities.