Fortescue says not aware of third-party applications to FIRB

The share price of iron-ore major Fortescue Metals rose by nearly 9% on Tuesday after media reports suggested that the miner was discussing a potential investment with Chinese firms. The Australian Financial Review suggested that Chinese firms had applied to the Foreign Investment Review Board (FIRB) seeking permission to invest in the iron-ore major, with the article also stating that Fortescue had held discussions with steel producer Baosteel and conglomerate CITIC.