News Articles for Andrew Forrest

One industry to benefit from reduced mining activity is agriculture, particularly sheep meat production.

The best leaders encourage us all to step up to the plate, empowering us to achieving better outcomes.

After five consecutive years at the top of Forbes Australia's rich list, mining magnate Gina Rinehart is no longer Australia's wealthiest person.

South Australian Senator Nick Xenophon has renewed his call for an inquiry into the cause of the dramatic recent fall in the iron ore price while in Perth today, as shares in the state's biggest miners continued to fall.

Andrew Forrest has finalised the purchase of a $16 million oceanfront house in Cottesloe from an elderly man who has apologised for implying the billionaire pressured him into the sale.

Andrew Forrest wants Australia's looming free trade agreement with India to include a commitment to tackling modern slavery within the world's seventh largest economy.

The first shipment of iron ore from Gina Rinehart's $10 billion Roy Hill project has been delayed because of commissioning and safety issues.

Families that retain multi-generational wealth have a role in any economy as valuable as emerging entrepreneurs.

'Tis the season to be gloomy, that much we know from following financial markets; but an early nominee for the Dr Gloomy prize of the season goes to former ANZ Bank chief economist, Saul Eslake, who said earlier this week that the China-driven mining boom was “the last in human history”.

Fortescue Metals Group chairman Andrew Forrest has strongly criticised the strategies of the state's other major iron ore miners at the company's annual general meeting today, although the board experienced a close shave on its remuneration report.

Fortescue Metals Group is home to two of Western Australia's wealthiest company directors, or so it was believed until a surprise disclosure last month.

SPECIAL REPORT: For the second year running, the value of shares held by company directors in WA has fallen sharply, though some operators defied the trend.

Wealth creation is a critical element of any stable society.

Two years after joining Andrew and Nicola Forrest's Minderoo Group as chief operating officer, Grant Vernon has moved onto a new challenge at fast-growing cooking appliance company Thermomix.

The major shareholder in Octagonal Resources is planning to privatise the company after concluding there is no value in its ASX listing, and has proposed a capital reduction that ties in Andrew Forrest-backed A1 Consolidated Gold.

Local exploration firms Impact Minerals, Lucapa Diamond Company, and General Mining Corporation have taken in a combined $8.4 million from successful capital raisings.

The commodity price crash is drawing in some big-name, high-cost producers.

Could the contrasting fortunes of Atlas and Elders signal the start of a rural revival?

Architects have a saying about ‘less being more'. The mining industry has flipped that around with ‘more being less', as shown in this week's production reports and share prices of Fortescue Metals and BHP Billiton.

Andrew Forrest's private vehicle, Minderoo Group, has announced plans to invest up to $7.3 million in local miner Impact Minerals.

There is no prize for guessing that iron ore companies have plunged to the bottom of the resources component of this year's TSR survey; but what is interesting is the rise of uranium hopefuls, despite few signs of an imminent increase in the uranium price.

To best understand what's gone wrong with Western Australia's iron ore industry you need to start by looking back 12 years, to 2003, when an ambitious Andrew Forrest created Fortescue Metals Group.

Australia's largest ever philanthropic donation is bearing fruit, with the first five recipients of the Forrest Foundation research scholarships announced at the University of Western Australia today.

New South Wales has overtaken Western Australia as the favoured destination for Chinese direct investment in Australia, as the near decade-long resources and energy sector boom tails away.

A federal government move to set itself targets for indigenous procurement has met with a disappointed response from established contractors, with one critic labelling it as ‘smoke and mirrors'.

Andrew and Nicola Forrest are recognised as two of Western Australia's most prominent philanthropists, but recent developments in Canberra show their influence on social policy continues to spread.

When done well, highly organised giving transcends being big-spirited because it can shape outcomes.

It should be clear by now to Andrew Forrest that his campaign for a political inquiry into the iron ore industry has done the company he runs, Fortescue Metals Group, more harm than good – and might even have stirred up trouble for another local billionaire, Gina Rinehart.

Those expecting the massive LNG projects under way in the north-west to ride to the WA economy's rescue may need to think again.

The ‘iron ore wars' and budget battles are defining where power and influence lies in business and politics in WA. Read our latest Most Influential feature to see who is on the rise, whose influence is waning and who has dropped off the list.

Prime Minister Tony Abbott has declared support for an inquiry into the iron ore industry, providing a huge boost for the campaign being waged by Fortescue Metals Group chairman Andrew Forrest against his two biggest competitors.

Premier Colin Barnett has rejected calls for a parliamentary inquiry into the iron ore industry, despite repeating his criticism of the major producers.

Andrew Forrest's private vehicle, Minderoo Group, has subscribed for a majority of A1 Consolidated Gold's recently announced $2.5 million convertible loan placement.

Rio Tinto and BHP Billiton have highlighted their competitive advantage in the iron ore market, with BHP predicting further large reductions in its operating costs in the Pilbara and Rio detailing the big price discount Fortescue Metals Group has to accept for its products.

Mining industry groups in Perth and Canberra have come out today in favour of free markets in the iron ore industry, after Fortescue Metals Group chairman Andrew Forrest criticised the actions of heavywights Rio Tinto and BHP Billiton.

Atlas Iron has appointed its project adviser and former Western Australian politician Cheryl Edwardes to its board as a director.

Big retailers will be hoping the federal government puts most recommendations from the recent competition policy report in the too-hard basket.

Andrew Forrest's worst nightmare is that he will one day relive his painful experience with pioneering low-grade nickel ore processor Anaconda Nickel; so surely he must have suffered an ‘Anaconda moment' when the iron ore price fell below $US50 a tonne overnight.

Andrew Forrest and Gina Rinehart will need to wait a while for their dairy investments to deliver a return, according to a recent analysis of the sector.