Fortescue in negotiations with Chinese companies

Australia's third biggest iron ore exporter, Fortescue Metals Group Ltd, continues to be talks with Chinese groups to secure as much as $6 billion funds to expand.

"We have held discussions with major Chinese financiers to extend credit to around $5.5 billion to $6 billion to Fortescue," Chief Executive Officer Andrew Forrest said yesterday.

Fortescue said earlier on Monday that it wants to have the financing secured by the end of September.