By DPA,
Sydney : Australian iron ore mogul Andrew Forrest Thursday donated part of the proceeds of Fortescue Metals Group Ltd’s first shipment to China to quake victims there.
Fortescue’s maiden commercial shipment of 170,000 tonnes of iron ore left from the Pilbara region on Australia’s west coast for China and customer Baoshan Iron and Steel Co.
Forrest, the chief executive of Fortescue, said the company had broken the iron pre-export duopoly enjoyed by BHP Billiton and rival Rio Tinto.
Forrest overtook gambling tycoon James Packer to become Australia’s richest man earlier this year.
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