Iron Company News Directory

Fortescue Plays Down Urgency to Refinance Debt

Reuters reported that Australian miner Fortescue Metals Group (ASX:FMG) has played down the urgency to refinance its debt, citing the reason that its mines are still generating money despite the downslide in iron ore prices to their lowest level since 2008.

Scotiabank Sues Cliffs Natural Resources for $52.6 Million for Breach of Loan Terms

Reuters reported Thursday that the Bank of Nova Scotia (TSX:BNS) has filed a lawsuit against Cliffs Natural Resources (NYSE:CLF) for breaching the terms of a loan agreement when it filed for creditor protection for its operations in Canada. Scotiabank has claimed damages for the sum of $52.6 million.