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.
The median salary paid to chief executives at Australian mining companies fell by 12 per cent over the past two years, and is set to decline further after recent cost-cutting moves by the likes of BC Iron, Sundance Resources, Paladin Energy and Poseidon Nickel.
Fortescue Metals Group has set an ambitious target of having Aboriginal workers fill 20 per cent of all trades positions in its workforce, on the back of an apprenticeship program launched today.
The latest round of annual reports has revealed some highly unusual movements in chief executive remuneration, including at Monadelphous Group and Mineral Resources.
The Wirlu-murra Yindjibarndi Aboriginal Corporation has continued to benefit from being one of Fortescue Metals Group's preferred indigenous partners, having joined with Thiess to win an $85 million contract in the Pilbara.
Fortescue Metals Group has restructured rosters for mine workers at its operations in the Pilbara, in its latest move to cope with plunging iron ore prices.
Macmahon Holdings' shares have been smashed in early trading, falling by about 40 per cent after it was disclosed late on Friday that it had lost a major contract at Fortescue Metals Group's Christmas Creek mine.
Facing a slowdown in mining-related construction work, indigenous contractors are diversifying into new fields, establishing joint ventures and highlighting their Aboriginal credentials. Click through to also see our BNiQ list of 25 major indigenous contractors in WA.
Shares in Fortescue Metals Group lifted today after it reported an 11 per cent cut in production costs and flagged further reductions. For more on FMG, Tim Treadgold's opinion column (see below) outlines reasons why mining giant BHP Billiton should buy the iron ore miner.
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.
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.
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.
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.
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.
FEATURE: Industrial uncertainty and an urgent need for more infrastructure are putting the squeeze on iron ore exports through Port Hedland, while productivity increases and transshipment options are also being mulled over statewide.
Fortescue Metals Group has signed a contract with a Chinese shipyard for the construction of four iron ore carriers that are even larger than the Cape size vessels currently in use in the industry.
Fortescue Metals Group has called for the phasing out of the state government's contentious domestic gas reservation policy, which has traditionally been backed by big gas buyers, in favour of stricter application of the ‘use it or lose it' rules.
The state government has secured private funding to build own and operate a 150 megawatt power station in South Hedland which will incorporate infrastructure from a smaller power station that collapsed engineering company Forge Group was building.
Fortescue Metals Group shipped record quantities of iron ore in the first three months of 2014, despite posting softer production on the back of seasonal wet weather.
Fortescue Metals Group has taken control of ore processing and train load out facilities at its Solomon Hub project previously managed by Leighton Contractors.
Fortescue Metals Group has vowed at the official opening of its final expansion project that it was not the end of its incredible rise to become the world's fourth-largest iron ore producer.
Fortescue Metals Group is continuing to accelerate its debt reduction by initiating repayment of nearly half of its $US2.04 billion in senior unsecured notes to its trustees that are due in 2015.
Fortescue Metals Group will go to the WA Supreme Court to challenge the Economic Regulation Authority's decision to allow third-party access to FMG's Pilbara railway.
Mining industry pundits bemoaning the end of the ‘boom' will be pleasantly surprised to know that up to a dozen major projects could go ahead over the coming year.
Fortescue Metals Group has vowed to focus on reducing its debt by 30 or 40 per cent following the official completion of its $US2.4 billion port expansion at Port Hedland.
MINING construction projects have continued to be fruitful territory for indigenous contractors in Western Australia, with the latest initiative teaming an experienced contracting group with a new
Experienced Aboriginal contracting group Eastern Guruma has teamed up with a new entrant to the sector, Wirlu-murra Yindjibarndi Aboriginal Corporation, to win a $200 million contract in the Pilbar
Fortescue Metals Group has resolved its short-term funding problems after securing the backing of global banking groups Credit Suisse and JP Morgan for a new US$4.5 billion credit facility.
