Australia's Fortescue-China deal on Pilbara rail

Australia's Fortescue-China deal on Pilbara rail

Australian iron ore producer Fortescue Metals Group has announced that it has signed a deal with China Railway Engineering Corp to build and finance the railway component of its Pilbara Iron Ore project. The contract for an undisclosed amount is effective for the railway line from Fortescue's iron ore reserves in the Chichester Ranges to an export hub in Port Hedland in northwest Australia.