Fortescue Metals Group Limited (ASX:FMG) is seeking to raise $US1 billion for its expansion plans.
The Pilbara focussed iron ore miner has launched a bond offering of senior unsecured notes.
The capital raising is geared toward supporting its plans to nearly triple production to 155 million tonnes per annum by 2013 and purchasing mobile mining fleet.
Fortescue Metals reported a net profit of $789 million in the last six months of 2011.
