And the Australian dollar is worth 105 US this morning. It'll also buy you 65 British pence and a dollar 27 New Zealand.

 

 

 

Australia's third largest iron ore miner has entered a trading halt in the wake of a share price slide. Fortescue Metal Group's shares have been placed in a trading halt until Tuesday when it is expected the compnay will make an announcement about refinancing its dart（a slip of the tongue)... debt levels. The company's shares plunged almost 14 percent to just under 3 dollars on Thursday. 

 

 

 

“It's surprising it wasn't taken earlier, because there was so much talk in marketplace that the company was having problems.”

 

 

 

FMG has already been foreced to wind back its expansion projects and sack about 1,000 employees because of tumbling iron ore prices. 

 

 

 

And the West Australia premier Collin Barnett has used his speech to a business conference to urge China to join in the development of the Browse Gas Reserve and the Oakajee port and rail project. Mr Barnett says he's got a political stake in both projects and is working hard to get them off the ground.