Fortescue moves on growing markets outside steel giant China

Fortescue Metals Group is making iron-ore marketing forays to steel-producing nations outside China to tap forecast increases in demand from burgeoning infrastructure projects across the region. The world’s fourth-biggest exporter’s mines in northwestern Australia are well-positioned to take advantage of expected growth in countries such as India, Vietnam and the Philippines, CFO Elizabeth Gaines said in an interview. Australian iron-ore exporters including Perth-based Fortescue account for more than half of the global export market.