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Fortescue Metals Group Ltd ( (AU:FMG) ) has issued an announcement.
Fortescue Metals Group Ltd, through FMG Pilbara Pty Ltd and associated entities, has increased its voting power in Red Hawk Mining Limited to 90.09% from its previous 89.44%. This change was achieved by acquiring additional shares through off-market takeover offers and on-market purchases at $1.20 per share. This strategic move enhances Fortescue’s control over Red Hawk Mining Limited, potentially impacting its operations and market positioning.
More about Fortescue Metals Group Ltd
Fortescue Metals Group Ltd is a leading company in the metals and mining industry, primarily focusing on the production and export of iron ore. The company is known for its operations in the Pilbara region of Western Australia, where it has significant mining and processing facilities. Fortescue is also involved in various initiatives to expand its presence and influence in the global mining market.
YTD Price Performance: 6.18%
Average Trading Volume: 9,353
Technical Sentiment Consensus Rating: Hold
Current Market Cap: $38.17B
For detailed information about FMG stock, go to TipRanks’ Stock Analysis page.
