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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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BN30 Index

Index = 100 as of 4 Jan 2016
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Total Shareholder Return as at 29/03/19

1 year TSR5 year TSR
53rdFortescue Metals Group78%12%
144thWoodside Petroleum25%3%
300thMineral Resources-4%11%
323rdOM Holdings-8%32%
348thIluka Resources-12%1%
729 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

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28/11/18
$29.6m Bought
27/09/18
$163k Issued
31/08/18
$0 Issued
Total value as at the date of the transaction
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Revenue

2nd↓Fortescue Metals Group$9,358.7m
3rd-Woodside Petroleum$7,536.1m
4th-Mineral Resources$1,706.7m
5th↑OM Holdings$1,512.8m
6th↓Iluka Resources$1,353.1m
485 listed resources companies ranked by revenue.
Source: Morningstar

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