News Articles for Fortescue

Early boots on ground at Reach Resources' White Castle manganese project in WA's Gascoyne region have been handsomely rewarded with high-grade manganese readings up to an eye-catching peak of 48 per cent. The company has amassed an impressive foothold in the emerging critical metals province after acquiring an additional exploration licence from Firebird Metals and extending its tenure to 70km at the prospective Edmund Basin.

The latest company reporting season was characterised by budget blowouts but also opportunities for growth in a changing economy.

The main players are not investing heavily in their own industry, instead they are finding better opportunities.

Reach Resources has entered into a tenement sale agreement to acquire a new exploration licence from Firebird Metals, extending its grip on prospective manganese terrain in Western Australia's Edmund Basin. The strategy is in line with the company's anticipation of increasing global demand for critical lithium, manganese and rare earths in the ongoing global phase of decarbonisation and attendant electrification.

ANALYSIS: This week's departure of three senior people from Andrew Forrest's Fortescue Metals Group highlights just how different the Perth company is from its ASX peers.

In this podcast Mark Beyer and Mark Pownall discuss Fortescue's revolving door, Qantas, Perth house prices, renewable deal, Frank Wilson, Federal IR changes and the Dowerin Field Days.

Guy Debelle has become the third person to resign from a senior role at Fortescue Metals Group in the space of a week, after CEO Fiona Hick and CFO Christine Morris.

Fortescue Metals chief financial officer Christine Morris departs after less than three months in the role and days after the abrupt exit of chief executive Fiona Hick.

Software provider K2fly has revealed a steady stepladder towards profit-making after its latest financial year report showed healthy revenue of $12.8 million – a jump of 28 per cent on the previous period. The company's positive result was bolstered by a 25 per cent increase in annual recurring revenue up to $7.5 million, putting its three-year compound annual growth rate at 48 per cent.

A Fortescue spokesperson has confirmed that team members working on the miner's Belinga iron ore project in Gabon are safe after reports emerged of a military coup.

Fortescue Metals Group plans to spend a further $570 million on energy infrastructure in the Pilbara, after recent investments in gas power, batteries and a solar farm.

Our board moves wrap includes Karl Page, Larry Marshall, Dino Otranto, Fiona Hick, Mark Barnaba, Michael Thurn, and Roger Aston.

Fortescue Metals' newest mine will incur a significant write-down because of delays and inflationary stressors, as spending at the 1,700-strong Fortescue Energy division kicks up a gear.

Fortescue Metals chief executive Fiona Hick leaves Andrew Forrest's iron ore business without explanation following a mutual agreement with the board, six months after she started.

In this podcast Mark Beyer and Mark Pownall discuss the DomGas inquiry, PwC, Alcoa, FMG move, and results wrap up on Wesfarmers, BHP, Pilbara Minerals, Northern Star and Monadelphous.

WA continues to take one step forward, two step backwards on Aboriginal self-determination

The mining giant is believed to be planning to exit its East Perth headquarters to move to a St Georges Terrace building.

Fortescue Metals Group has moved on developing its next mine as well as an accompanying 106-kilometre railway project, according to documents filed with the environmental watchdog.

Ground has broken on construction of a 100-megawatt battery at Alinta's Wagerup power station which will help smooth out supply for power in the state's South West.

The rapid push for EVs, and the search for metals required to power them, is leading to some uncomfortable outcomes.

Senior editor Mark Beyer and senior journalist Jack McGinn discuss co-investment models helping to drive success in indigenous businesses.

In this podcast Mark Beyer and Mark Pownall discuss EY, Mainsheet, FMG, Hancock vs Wright, ATCO and inflation.

Fortescue Metals Group will steam home to another record year for iron ore shipments while giving itself yet more time to get Iron Bridge up to speed.

Fortescue Future Industries' finance chief Felicity Gooding has resigned after more than 10 years climbing the ranks of the Forrest business empire.

First magnetite from Fortescue's delay-riddled Iron Bridge operation has been loaded and is bound for Vietnam, with CEO Fiona Hick indicating ramp up is still on track despite 'complexities'.

Fortescue Metals Group has marked its 20-year anniversary by changing its branding, while its green energy arm has acquired the owner of a proposed green hydrogen project in the US.

Andrew Forrest-chaired Fortescue Metals Group is confirmed to be the latest victim in a cyber attack incident, believed to be linked to a Russian ransomware group.

A series of share transfers and company restructures over the past six months mean that Andrew and Nicola Forrest will have a roughly equal split of their $34 billion fortune.

The Forrests have played down the impact of their separation on the companies in their domain but a growing body of research suggests otherwise.

Australian power couple Andrew and Nicola Forrest have announced their separation but say the split will have no impact on the direction of their business empire.

A memorandum of understanding between Fortescue Metals and PKKP Aboriginal Corporation is hoped to inform a new 'co-management model' underpinning the miner's existing and planned projects.

The donation, to the Forrests' Minderoo Foundation, came in the form of 220 million Fortescue Metals Group shares.

Fortescue is the second company after Rio Tinto this week to partner with world's biggest steelmaker China Baowu in a bid to reduce emissions associated with iron and steel making.

Our board moves wrap includes Jenn Morris, Elizabeth Gaines, and Brett Salt.

Elizabeth Gaines will be paid a $1.2 million salary after taking up a part-time executive director role at Fortescue Metals Group, while Jenn Morris has resigned from the company's board.

Our weekly appointments wrap includes Edward Wray-Bliss, Walter Gomes, Raj Kandiah, John Palermo, Aurelien Scannella, Alan Dodge, Suzanne Ardagh, Christine Morris, Ian Wells, Chris Sutherland and Dale Alcock.

Fortescue Metals Group has signed an $18 million agreement with the Nyamal people to provide mining equipment for its Iron Bridge magnetite project.

Indigenous business leaders have shared their stories and set an agenda to achieve more progress in the fast-growing sector.

Andrew Forrest's iron ore business has recruited US-based energy executive Christine Morris as its new chief financial officer.

Mining giant Rio Tinto has topped long-time market leader Fortescue Metals Group as the biggest supporter of Indigenous businesses in WA, data compiled by Business News shows.