News Articles for Fortescue

Fortescue Metals Group has hoisted its final dividend to a record high after a partial rebound in iron prices and lower costs helped the Pilbara miner more than treble full-year profit.

The share market has closed only modestly higher, despite US markets hitting record levels overnight, weighed down by weakness from market heavyweights Westpac and Telstra.

Brendon Grylls was something of a change-agent when he got the Royalties for Regions policy implemented, but his plan to tax iron ore tonnages has business worried.

A move flagged by National Party leadership challenger Brendon Grylls to effectively double the rate of the royalty paid by the state's two biggest iron ore miners would make Western Australia one of the most punitive jurisdictions for taxes on production of the commodity.

ANALYSIS: Politics and business never mix well, which is something the state government is about to discover with news that former Nationals WA leader Brendon Grylls is eyeing a return to his party's top job.

Local innovators and resources industry professionals, including Karara Mining, Barminco and Fortescue Metals Group, were recognised at two separate awards ceremonies held this week.

Iron ore shipments contributed more than $45 billion to the Western Australian economy in the 12 months to June, a figure well down on last year, according to BNiQ, despite a pick-up in volumes by the state's major producers.

TransAlta Corporation has had a small win in the Supreme Court after successfully defending an entitlements claim by Monadelphous Group, but the engineering firm is still pursuing about $33 million from a joint venture comprising a Pilbara-based subsidiary of the Canadian power utility and DPB Development Group.

WAIITA Incite startup of the year Family Zone is Techboard's top trending startup for this fortnight, after launching a $4.5 million IPO and capturing significant mindshare as a result.

Fortescue Metals Group is targeting further cost reduction in the current fiscal year as it seeks to match the cost structure of larger rival Rio Tinto in an effort to boost returns.

Indian sandalwood producer TFS Corporation has refinanced $US200 million of debt through a note issue overnight in the US, while also raising extra funds for working capital.

Iron ore miner Fortescue Metals Group has topped its full-year production guidance of 165 million tonnes.

Chief executive salaries in WA are continuing to ratchet down, and companies are seeking more flexibility, a study of nearly 30 new appointments this year has found.

SPECIAL REPORT: The dramatic rise and fall of iron ore producers and the recent surge in gold and lithium stocks have been highlighted by a historic review of WA's major listed companies.

SPECIAL REPORT: Mining stocks are again leading the way in shareholder returns, but this time it's not the iron ore players doing the business.

Andrew Forrest has lost his battle to stop Yarri Mining from being granted mining tenements on land near the mining magnate's Minderoo cattle station in the Pilbara.

Welshpool-based Indigenous Construction Resource Group has been named 2016 business of the year at the Perth NAIDOC Awards.

Local contractor Pindan has won the tender for construction of the new $70.7 million marine control tower in Port Hedland, which is one of four major projects worth nearly $800 million at the port.

As part of a series of interviews with top WA business leaders, Business News sat down for a one-on-one with Fortescue Metals Group CEO Nev Power.

SPECIAL REPORT: Indigenous entrepreneur Joanne Pellew must be getting used to racking up firsts.

SPECIAL REPORT: Indigenous contractors are revising their business plans and moving into new sectors as the mining construction boom has waned.

Auroch Minerals announced that Dr. Andrew Tunks has committed to a full-time role as Auroch CEO.

Western Australian companies have outperformed the broader stock market over the six months to June 30, judging by the performance of Business News' BN30 index.

Fifteen local broking, legal and advisory firms have teamed up to put forward their concerns with the ASX's proposed changes to its listing requirements, and to advocate three particular amendments.

BC Iron has announced settlement of its dispute with former contractor Watpac, with the settlement including a final payment by BC Iron and its joint venture partner Fortescue Metals Group.

EY has named 13 West Australian finalists in its annual Entrepreneur of the Year awards while also announcing Adrian Fini as its latest Champion of Entrepreneurship.

Fortescue Metals Group will lop off another $US500 million ($A665 million) from its debt pile next week, after issuing a repayment notice for part of its 2019 term loan.

Stephen Pearce has been appointed to the board of Fortescue Metals Group, but will retain his current role as chief financial officer of the iron ore giant.

The internet's disruptive role is different when it comes to heavy industry.

Women are being appointed to ASX200 boards at a faster rate than ever, but a number of major Western Australian companies remain without any female representation on their boards.

In the first of a series of interviews with top WA business leaders, Business News met with inaugural 40under40 First Amongst Equals winner and Macquarie Group chairman (WA) Mark Barnaba. Far from the boardroom, in the relaxed setting of Julio's restaurant in West Perth, Mr Barnaba spoke of his education, mentors, leadership style, culture, diversity, and social media.

Fortescue Metals Group has been fined $50,000 over an incident where a worker's legs were crushed an amputated at the company's Anderson Point facility in 2011.

ANALYSIS: WA's resources-focused business community is eagerly awaiting the next round of figures for iron ore production costs.

Small and medium-sized businesses are settling their invoices about 12 faster than large corporations on average, a report by Dun & Bradstreet has found.

Fortescue Metals Group has broken BHP Billiton's monopoly on tug services at Port Hedland, after being named the successful bidder for a second towage licence at what is the world's biggest bulk export port.

There were 23 Western Australians featured in this year's BRW Rich 200 List, with two new entrants and two others failing to make the cut.

Perth-based Energy Made Clean has struck a partnership deal with Aboriginal corporation Eastern Guruma for the rollout of solar power stations and solar water pumps in northern Australia.

SPECIAL REPORT: Wealthy Western Australians have made some eye-popping philanthropic pledges over the years but none as large as one of Gina Rinehart's recent moves.

SPECIAL REPORT: There's no doubt the boom has come to an end, but plenty of opportunities and projects remain in play.

Perth company director Sharon Warburton has been named as the incoming chair of a soon-to-be-established federal government fund that will have $5 billion to spend on infrastructure in northern Australia.