News Articles for Fortescue

Australia's free trade agreement with China is likely to deliver significant benefits to agricultural exporters but the gains will be mainly indirect and apparent over the longer term, a report by Rabobank has concluded.

The tougher business climate has prompted some WA companies to cut executive salaries, but most have held the line and some have even awarded pay rises.

There's a good reason Perth Airport seems overrun with people in hi vis - even as the resources sector stalls and new projects are shelved - with flights to key industry destinations still dominating air traffic.

Fortescue Metals Group's Christmas Creek iron ore mine site has been raided for drugs by WA Police, working in cooperation with the company, as part of a crackdown of mine sites across the state.

Fortescue Metals Group has ended a tough week for the iron ore sector by halving its projected capital expenditure for the 2015 financial year to $US650 million, in response to the continued weakening of the iron ore price.

Engineering construction contractor Primero Group has won its first job at Chevron's Wheatstone gas project, lifting its order book to $50 million.

Andrew and Nicola Forrest's Minderoo Group has recruited finance executive Aaron Hood to take charge of its expanding commercial investment activities.

NRW Holdings chairman Ian Burston has told shareholders the contractor will not be "jerked around by anybody" after revealing it is in a dispute over its largest project at Roy Hill.

The proponents of a landmark agreement to train and employ Aboriginal prisoners in the Pilbara say it has the potential to be rolled out nationwide.

It's not easy to feel sympathy for Perth's super-rich as they watch their fortunes shrink, but the problems of Gina Rinehart, Andrew Forrest, Kerry Stokes, Angela Bennett and Stan Perron are a powerful pointer to the problems facing everyone in Western Australia.

For the best ringside seat at a bruising encounter don't buy a ticket to a boxing event, sign up for an iron ore forecasting conference which will, for the first time since prices crashed, put the big boys of the industry on the same podium as the small producers.

Andrew Forrest has reiterated his support for Fortescue Metals Group diversifying its operations into other commodities, but said there were no immediate plans to pursue nickel, or oil and gas over its core iron ore business.

The Fair Work Commission last night issued an order to the Australian Institute of Marine & Power Engineers to end a planned strike by Teekay Shipping's engineers this morning in Port Hedland.

Engineering firm Monadelphous Group has increased its work on hand after being awarded three separate construction contracts in the oil and gas and infrastructure markets for a combined value of about $90 million.

Engine technology developer Orbital Corporation has moved to acquire half of electrical product manufacturer REMSAFE from co-founder Nick Bertucci for $5 million.

International aluminium producer Alcoa has joined a number of companies fined for workplace deaths this year, today receiving a $68,000 fine for a fatality at its Wagerup refinery five years ago.

Psst … looking for a bargain? Here's a way to buy $1 for less than $1 by acquiring a fistful of shares in Mt Gibson Iron.

Tugboat operator Teekay Shipping and the world's fourth largest iron ore miner Fortescue Metals Group have condemned the decision of 56 tugboat workers to bring Port Hedland to a halt for four hours next Wednesday .

Buxton Resources has appointed former Fortescue Metals Group exploration and evaluation director Eamon Hannon as its new chief executive officer, as Anthony Maslin steps down as managing director.

Fortescue Metals Group chairman Andrew Forrest has been appointed to the Art Gallery of Western Australia's board.

As the iron ore majors ramp up production, Fortescue Metals Group has an ace up its sleeve.

Perth engineering firm Clough is targeting small-scale liquefied natural gas (LNG) projects as a new growth area, after signing a ‘teaming' agreement with global company GE Oil & Gas.

Seven Group Holding's performance may be more accurate barometer of the state's finances than treasury calculations.

The combined wealth of WA's richest public company directors fell by around $3 billion in the past year, but some individuals bucked the trend.

The big get bigger and the small get crushed.

Fortescue Metals Group has extended its partnership with hockey world champions the Kookaburras for another two years, providing support in the build-up to the 2016 Olympic Games in Rio de Janeiro.

Viento Group has been awarded a $7.9 million contract by BHP Billiton Iron Ore for refurbishment at its OHP Substation in Yandi.

Iron ore production shows no sign of slowing, but getting the ore on the water may be more problematic.

Fortescue Metals Group chief executive Nev Power has criticised what he calls "last man standing" expansion strategies by the major iron ore producers in the Pilbara while defending FMG's own expansion strategy.

The Business News annual export review has the latest data on 33 businesses representing $122 billion in outgoing trade. It also shows that while iron ore continues to dominate, the emergence of LNG, agriculture and services will benefit from a lower dollar.

The big commodities exporter has stolen a march on Australia with a China deal to use giant ships at cheaper rates.

If Western Australia's small iron ore miners thought all the bad news about falling prices was in the open, they got a shock this week when the two biggest producers, BHP Billiton and Rio Tinto, launched a war of words, complete with threats of fresh expansion programs.

The appointment of investment banker Michael Ashforth as manager of the Bennett family's $1.5 billion fortune highlights the maturing of Western Australia's private wealth market.

China's new coal-quality rules have ruffled feathers in the Australian coal industry.

Mines and Petroleum Minister Bill Marmion has announced that Western Australia will play a key role in settling global safety standards for emerging remote controlled mining machinery.

Investor interest in base metals stocks is rising, as iron ore process continue to slide south.

A joint venture between Viento Group and indigenous-owned Kimberley Pipelines has been awarded a $9.8 million pipeline construction works contract for the first stage of Fortescue Metals Group's North Star magnetite project in the Pilbara..

Chrysalis Resources has entered into a deal to grant Fortescue Metals Group exclusive exploration access and an option to buy the Chrysalis West Angelas Project Tenements.

WA's listed companies have significant work to do to satisfy new guidelines around sustainability reporting.

FEATURE: A stubbornly high dollar, falling prices and high operating costs are combining to exert real pressure on smaller players in the iron ore sector.