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The debt reduction at Fortescue continues, they have announced today that"Fortescue Purchases Christmas Creek Ore Processing Plants""The buy-out of the finance lease for the OPFs continues Fortescue’s ongoing debt reduction program."I expect we will see more of this kind of thing as they aim to knock out their most expensive debts, The free cash flow being produced at the moment is going to mean they will be reducing their debt loads quite rapidly.this debt buy out should also have a positive effect of the cost of production, because they will no longer have the contracting company that ran the asset as a middle man, as they have taken over the running of the OPF them selves.
The debt reduction at Fortescue continues, they have announced today that
"Fortescue Purchases Christmas Creek Ore Processing Plants"
"The buy-out of the finance lease for the OPFs continues Fortescue’s ongoing debt reduction program."
I expect we will see more of this kind of thing as they aim to knock out their most expensive debts, The free cash flow being produced at the moment is going to mean they will be reducing their debt loads quite rapidly.
this debt buy out should also have a positive effect of the cost of production, because they will no longer have the contracting company that ran the asset as a middle man, as they have taken over the running of the OPF them selves.
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