Iron ore crash puts pressure on Fortescue

Melbourne

AUSTRALIA's Fortescue Metals Group has two stark choices to deal with a crash in the iron ore market and cut its US$9 billion debt pile - sell off stakes in its mines or transport infrastructure, or sell new shares.

Investors say the quickest capital-raising option for the world's No 4 iron ore miner would be a rights issue, although that could lead to the dilution of the one-third stake held by chairman Andrew "Twiggy" Forrest. "There's no question, all of those things, in a challenging environment, get a run," said a person close to the company who asked not to be identified. "You've alw…