The path to Australia’s first big bauxite fortune will look a lot like the same path Andrew Forrest trod in iron ore. Forrest—who according to Forbes magazine is Australia’s richest man—realised he didn’t need to compete with BHP and Rio Tinto. Just becoming Australia’s third biggest producer of iron ore would be enough to make him a very rich man. He was right. Incredibly, Forrest’s company Fortescue Metals (ASX:FMG) has yet to ship any actual ore to China.
March 19th, 2008 | Dan Denning | 2 comments | Continued
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