Fortescue confirms plans to diversify

Fortescue confirms plans to diversify


Fortescue Metals Group has "mature" plans to diversify into other industries, with chairman Andrew Forrest confirming that the company is running the ruler over opportunities in six different commodities.
Mr Forrest conceded at the iron ore miner's annual meeting on Wednesday that all of the company's "eggs are in one basket" but that it would only diversify if an investment opportunity could provide equal returns to its existing mines.
Unwilling to be drawn on what the six commodities are Mr Forrest only confirmed that one of the industries under scrutiny was oil and gas.

Read more: http://www.smh.com.au/business/mini...-diversify-20141112-11l8fn.html#ixzz3IpvfSVOU