Fortescue Metals Group Ltd. is scheduled to make its first commercial shipment of iron ore to China. Fortescue Metals has been working to become the ´third force´ in iron ore, behind industry majors Rio Tinto and BHP Billiton. That dream is set to become reality when the Chinese freighter Heng Shan sets sail carrying 180,000 tonnes of ore from the company´s Cloud Break mine site. FMG has overcome significant hurdles to meet its first shipment deadline, including cyclones, ongoing court battles with its competitors, and having to build new rail and port facilities.

Sinosteel Corp’s official said she had no knowledge of the company´s reported bid for a stake in Fortescue Metals Group Ltd. The Australian newspaper, without naming its sources, reported that Aluminum Corp of China (Chalco), Baosteel Group Corp and Sinosteel were launching separate bids for part of Harbinger Capital Partners´ 16% in Fortescue. Chalco and Baosteel were unavailable to comment on the report and an official in the office of Sinosteel´s president said, ´There is no such deal in place that I know of.´

It is believed that that three Chinese state-owned steel firms are looking to acquire a stake in Fortescue Metals Group Ltd which has been reportedly put up for sale by Harbinger Capital Partners. According to a report in The Australian, Sinosteel Corporation, Chinalco and Baoshan Iron & Steel Co., Ltd are eyeing Harbinger’s 16% stake in Fortescue. "We´re not denying it," Fortescue spokesman Paul Downie said. "We´re not sure if Harbinger is a seller or not," he added. Harbinger could not be immediately reached for comment.