CAPITAL MARKETS

FMG off-loads power station

JUST a day after announcing the slowing of its Pilbara iron ore expansion, Fortescue Metals Group has sold its Solomon power station to Canada’s TransAlta Corporation for $US300 million ($A293.4 million) as its shares slumped.

Kristie Batten
FMG off-loads power station

The companies also entered into a long-term power purchase agreement for 100% of the 125 megawatt dual-fuel power station’s capacity for the life of the Solomon mine. The deal is subject to Foreign...

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