'Twiggy' Forrest: opportunities ahead in Asia

The often-controversial founder of iron ore giant Fortescue Metals knows how to ride liquidity cycles and thinks Asia should build a debt market to rival Wall Street.

'Twiggy' Forrest: opportunities ahead in Asia

Twenty years ago, Andrew “Twiggy” Forrest had abandoned his pastoral roots and was plugging away at a modest nickel project in Western Australia. The processing plant used new technology, involving leaching igneous rock with sulfuric acid in huge high-pressure autoclaves, but production delays and a liquidity squeeze saw Anaconda Nickel default on its bonds. Eventually Forrest’s small shareholding was swallowed up by bigger investors.

It was a taste of what hostile capital markets can do...

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