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Stephen Dawson stressed that a decision on the MinRes proposal had not been made. Picture: Attila Csaszar

Dawson endorses EPA's MinRes report, decision pending

Environment Minister Stephen Dawson has endorsed the environmental watchdog’s rejection of Mineral Resources’ Jackson 5 and Bungalbin East iron ore project, however, the government is yet to make a final decision on the proposal.

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This is fantastic news. The state government has now endorsed the EPA’s very strong recommendation not to permit mining in this unique range of hills. The iron ore is low grade and only marginally economic. This project is not good for MRL shareholders and the income to the state government will have an almost infinitely tiny impact on the state debt. It would therefore be an extraordinary act of environmental vandalism if the state government were to give approval to these two mines now.

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Total Shareholder Return as at 31/12/19

1 year TSR5 year TSR
250thNorthern Star Resources24%53%
298thWoodside Petroleum16%3%
316thMineral Resources10%21%
517thSouth32-16%
753rdOM Holdings-57%10%
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2nd-South32$10,711.5m
3rd-Woodside Petroleum$7,536.1m
4th-Mineral Resources$1,520.1m
5th↑OM Holdings$1,512.4m
6th-Northern Star Resources$1,401.2m
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