Forrest's mining empire hangs in the balance

Andrew “Twiggy” Forrest bet US$15 billion of mostly borrowed money on a China steelmaking boom, defying doubters to build mines, a railway and a port to create the world’s no. 4 iron ore miner under the noses of giants Rio Tinto and BHP Billiton.

Now, hammered by a halving in iron ore prices in the past year and saddled with US$10 billion in debt, his Fortescue Metals Group faces a critical week.

via Business feed http://www.scmp.com/business/companies/article/1039091/forrests-mining-empire-hangs-balance