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Pay Dirt in Iron Ore

A mining play made Andrew Forrest Australia's richest man.

Joseph Steinberg, founder and CEO of Leucadia National, a Utah-based holding company, calls Fortescue Metals Group the world’s biggest Tinkertoy set, and New York–based Philip Falcone, senior managing director of hedge fund firm Harbinger Capital, hasn’t even set his eyes on it. Together, though, they own more than a quarter

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