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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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Share Price

Closing price for the last 90 trading days
Source: Morningstar

BN30 Index

Index = 100 as of 4 Jan 2016
Source: Morningstar

Total Shareholder Return as at 31/01/18

1 year TSR5 year TSR
195thMineral Resources59%18%
207thNorthern Star Resources55%43%
231stSouth3245%0%
393rdWoodside Petroleum9%4%
722ndAtlas Iron-45%-55%
709 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

30/11/17
$36.9m Sold
30/11/17
$4.0m Sold
20/09/17
$118k Bought
Total value as at the date of the transaction
Source: Morningstar

Revenue

2nd-South32$9,392.9m
3rd-Woodside Petroleum$5,715.9m
4th-Mineral Resources$1,470.4m
5th↓Atlas Iron$896.6m
6th↓Northern Star Resources$850.6m
499 listed resources companies ranked by revenue.
Source: Morningstar

Remuneration from Mineral Resources

9thChris Ellison$2.918m
23rdBruce Goulds$1.543m
32ndBob Gavranich$1.323m
Ranked by total remuneration from all listed WA companies

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