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.
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.
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.
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.
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.
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.
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.
Amid the gloom, WA has some positive resources stories to tell,with uranium developers buoyed by improving news, investment certainty guaranteed around royalties rates - for now - and nickel reappearing as a sturdy performer.
It might be bold to suggest that Andrew Forrest consider a career change, but as his fortune shrinks and as his iron ore business struggles in a flooded market, there is a nickel deal to be done that could be a lot more fun than playing the role of fading star.
Demand for Western Australian agricultural property assets is expected to run hot throughout 2015, with offshore buyers not expected to be deterred by new rules for foreign investment in farmland.
The Wirrpanda Foundation, which is one of nine Western Australian groups pioneering a new indigenous training and employment program in the state, has put contractors who over promise and under deliver on notice.
Fortescue Metals Group surprised investors earlier today with a better-than-expected December quarter production report, but that should not stop speculation that it could be a key player in Western Australia's deal of the decade.
Iron ore miner Fortescue Metals Group has recruited the former vice-president of global procurement at oil giant ExxonMobil to its board of directors, as it seeks to lift the efficiency of its business.
The international stage has helped this year's local business and political leaders stand out from the pack – including our Person of the Year, Richard Goyder.
Small iron ore miners operating in a $70/t environment are struggling, but in a different way so are the majors battling to satisfy investor expectations.
