News Articles for Fortescue

Rio Tinto has extended its contract with Perth-based towage company Westug at its two Pilbara iron ore ports, in a deal worth $200 million.

Pilbara Ports Authority has reported a record annual throughput for the 2018 financial year, with nearly 700 million tonnes of cargo passing over its docks, on the back of an uptick in activity at Port Hedland.

SPECIAL REPORT: Battery metals businesses such as Pilbara Minerals, Altura Mining, and Western Areas have joined AusCann Holdings, Buru Energy and OM Holdings among the best-performing stocks in the year to June.

The Takeovers Panel has dismissed an application from Fortescue Metals Group questioning the veracity of Hancock Prospecting's $390 million bid for Atlas Iron.

The board of Atlas Iron has unanimously recommended a revised bidder's statement from Hancock Prospecting, while also announcing the suspension of production at its Mt Dove iron ore mine due to challenging market conditions.

The future of Atlas Iron has been further muddied today after the takeover target said the state government had indicated to media it could compromise on its policy regarding development rights at Port Hedland if either Fortescue Metals Group or Hancock Prospecting takes control of the junior miner.

Three weeks after acquiring a strategic blocking stake in Atlas Iron, Fortescue Metals Group has for the first time confirmed that its main interest in the takeover target is the rights to develop new berths at Port Hedland.

The battle for Atlas Iron has taken another twist after Fortescue Metals Group submitted an application to the Takeovers Panel questioning the veracity of the $390 million takeover offer by Gina Rinehart's Hancock Prospecting.

Chris Ellison-led Mineral Resources has decided against making a counter offer to Gina Rinehart's $390 million takeover bid for junior miner Atlas Iron.

BHP's local boss has said more than 75 per cent of work on the new South Flank mine will be sourced within Western Australia, as CPB Contractors announced it had won a $260 million contract on the $4.5 billion project.

A second mining major has given the green light to a big iron ore development in a month, with BHP's board approving the $4.5 billion South Flank development on Thursday.

Atlas Iron has disclosed it no longer holds exclusive port development rights at Port Hedland that were central to the takeover battle that has involved three mining heavyweights buying shares in the company.

Iron ore miner Roy Hill has connected its Port Hedland operations to Horizon Power's North West Interconnected System following the installation of extensive underground facilities, which began in 2016.

New data out today shows female participation on ASX 200 boards has increased to 27.7 per cent in May, however five companies, including Perth-based Ausdrill, still have no female directors.

Iron ore exporters are jostling for position as on-water traffic grows at Port Hedland.

Gina Rinehart's Hancock Prospecting has acquired a 19.6 per cent shareholding in takeover target Atlas Iron, joining Mineral Resources and Fortescue Metals Group in the battle for control of the mid-cap iron ore miner.

Mineral Resources has agreed to allow takeover target Atlas Iron to enter discussions with other parties, one day after the Andrew Forrest-chaired Fortescue Metals Group purchased a blocking stake in the junior iron ore miner.

Andrew Forrest-chaired Fortescue Metals Group has taken a surprise 19.9 per cent stake in Atlas Iron, and says it will block the $280 million takeover proposed by diversified mining services business Mineral Resources.

Iron ore miner Fortescue Metals Group has approved development of its Eliwana mine and rail project in the Pilbara, which has an estimated $US1.28 billion ($1.7 billion) capital cost.

Iron ore maganates Gina Rinehart and Andrew Forrest remain in the top 10 of the nation's wealthiest people, according to the 2018 AFR Rich List, which included 20 Western Australians out of 200 people listed this year.

A long-mooted port development at Lumsden Point adjacent to existing operations at Port Hedland has taken a step forward with the Pilbara Ports Authority opening expressions of interest for potential investors in the project.

Business News' index of 30 Western Australian stocks hit an all-time high this week, helped by solid gains by copper miner Sandfire Resources, oil and gas giant Woodside Petroleum and engineering and construction contractor Monadelphous Group.

State government revenue will be boosted by several policy measures announced today, including increased cost recovery from the mining, maritime and justice sectors, removal of the resource sector's exemption from a training levy, and an increased levy on foreign property buyers.

Former Fortescue Metals Group CEO Nev Power's new career as a non-executive director has started with Perth Airport.

More than $12 billion of mining projects are in the pipeline for WA and likely to proceed, with major iron ore developments the biggest contributor.

Fortescue Metals Group has recorded higher production costs during the March quarter, while iron ore shipments were down slightly for the period.

A not-for-profit group established and chaired by retiring Governor Kerry Sanderson has attracted strong corporate support in its mission to improve our state's parks.

Fortescue Metals Group is expanding its fleet of autonomous haul trucks with the conversion of 100 vehicles at its Chichester mining hub, leaving the company with a fully driverless fleet.

The directors of Mineral Resources and Altura Mining have enjoyed solid growth in the value of their shares over the past month, according to data on Director Shareholdings tracked by Business News.

A Supreme Court judgement and a stoush with the state government over a new iron ore mine have shone a revealing light on the activities of the Eastern Guruma people and their business interests.

Rio Tinto has co-hosted 21 of the state's major companies at Scitech to announce further details on its partnership with South Metropolitan Tafe, with high-tech courses in automation expected to be rolled out in 2019.

Australian Aboriginal Mining Corporation chairman Daniel Tucker is confident the company will become the first Aboriginal-owned and operated iron ore miner this year, after signing a mine gate sales deal with Fortescue Metals Group.

Fortescue Metals Group has cut the amount it expects to receive for its iron ore shipments this year, saying slow Chinese construction and the recent Trump-inspired trade war fears are weighing on forecasts.

Perth-based mining company South32 has implemented new leave provisions that exceed those of most other employers, offering six months' parental leave on full pay and up to 10 days of paid domestic violence leave.

As the only artist to claim a space at Cottesloe's Sculpture by the Sea for each of the event's 14 exhibitions, Ratimir Marijan (Ron) Gomboc has created his largest sculpture yet for the seaside display.

Gina Rinehart's four children have joined their mining mogul mother among the world's richest people, with nine Western Australians included in Forbes' latest world billionaire rankings.

Former Fortescue Metals Group chief executive and well-known aviation enthusiast and commercial pilot, Nev Power, has been appointed as chairman of Perth Airport.

Automotive Holdings Group has selected current director Rob McEniry to replace outgoing chairman David Griffiths, while England-based Sebstian Coe will become a non-executive director at Fortescue Metals Group.

Nev Power has resigned as chief executive of Fortescue Metals Group. The company has appointed current chief financial officer and executive director Elizabeth Gaines as its new chief executive.

Fortescue Metals' half-year profit has dropped 44 per cent as the miner offered wider discounts on its lower-grade product, but the result still came in ahead of market expectations.