Fortescue Metals Group deputy chairwoman Sharon Warburton will quit the board of the Andrew Forrest-controlled miner at the end of next month.
The surviving son of late iron ore pioneer Peter Wright says he came up with a valuation on the family company in minutes as he considered a sale price for his share of the now billion-dollar company.
Iluka Resources will retain a key stake in the new entity which will be tasked with acquiring new royalties as part of its business plan.
Fortescue Metals Group has rewarded shareholders with a spectacular interim dividend after posting record revenue on the back of record shipments and high iron ore prices.
New projects and strong prices for key commodities including gold and iron ore are increasing demand for the groups’ services.
The mining giant has announced a 29 per cent jump in first half profit to $US4.87 billion and declared its second-highest interim dividend on record.
Mining giant reveals infrastructure damage across its entire Pilbara network, including impact to access roads, electrical and communications infrastructure and accommodation.
The High Court today denied an appeal against the so-called Royalty B payment on products produced from the mining operation at Cape Preston run by CITIC Pacific Mining.
BHP, Rio Tinto and BHP set to lavish shareholders with bumper payouts this reporting season.
No major infrastructure damage reported for resources giants in the Pilbara but further inspections are taking place.
Workers at mining sites across the Pilbara are not frothing over a new pricing policy that has sent the cost of an Emu Export soaring by an astronomical 45 per cent. SEE WHAT A PINT WILL COST YOU
The threat of a cyclone approaching WA’s iron ore export hubs has prompted ports to be cleared as residents bunker down.
The contractor has added more Fortescue Metals Group work to its books with a $70 million earthworks contract at the high-grade Iron Bridge magnetite project.
Mining giant agrees to pay small suppliers within 20 days of receiving valid invoice.
Chinese iron ore prices fall by 8 per cent limit on fears virus could stall construction and steel production.
Mining services company wins significant contracts with Rio, FMG.
The miner has downplayed fears the deadly coronavirus could sabotage the strong market for its iron ore in China.
The iron ore major also announced it will invest $US450 million in the Pilbara Generation Project to reduce its carbon footprint.
Decision follows political and community backlash that suppliers and contractors were being pressured.
The 64-year-old mine worker was flown to Perth yesterday after receiving serious injuries but died last night.
Daniel Newell and Laura Newell
Kwinana-based Pacific Industrial Company is making the biggest and heaviest road and rail bridge girders ever built in WA for Fortescue Metals Group’s $1.8 billion Eliwana project in the Pilbara.
Direct commercial jet flights to allow workers to travel direct to site from Perth.
Analysts are scrambling to adjust their forecasts for the unexpectedly high iron ore price as demand and supply fundamentals point to a stronger-for-longer narrative.
On Monday, Twiggy’s stake in the company he founded stood at just under $13 billion. A three-day rally now values his shares at close to $14 billion.
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