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Infrastructure, Fortescue and the future of mining

Sipping coffee on the sun-drenched balcony of his apartment overlooking the Oakland Bay Bridge in San Francisco, Glen Ireland mulled the vexed question of whether debt-challenged Fortescue Metals Group might offload a stake in its rail and port infrastructure, said to be worth up to US$10 billion.

“Look, the cost of building that kit is the source of the financial pressure on the company today,” said Ireland, a founder-director of mining infrastructure advisory firm, Infrashare.