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Fortescue cuts ties with TransAlta

Fortescue Metals Group has terminated its agreement with TransAlta Corporation to purchase power from the recently completed South Hedland power station after the miner raised performance concerns in August.

Fortescue had contracted to draw 40-megawatts from the South Hedland facility for its nearby port operations, however, in August the company said the power station had not satisfied contracted performance criteria.

The miner released a statement today saying that an agreement had not been met.

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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 30/11/17

1 year TSR5 year TSR
189thMineral Resources62%24%
299thSouth3225%0%
401stWoodside Petroleum9%4%
444thAtlas Iron0%-57%
561stFortescue Metals Group-15%8%
727 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

10/11/17
$0 Bought
03/10/17
$9k Issued
29/09/17
$0 Bought
Total value as at the date of the transaction
Source: Morningstar

Revenue

1st-Fortescue Metals Group$10,999.7m
2nd↑South32$9,392.9m
3rd-Woodside Petroleum$5,715.9m
4th-Mineral Resources$1,470.4m
5th↑Atlas Iron$896.6m
491 listed resources companies ranked by revenue.
Source: Morningstar

Remuneration from Fortescue Metals Group

3rdNev Power$5.324m
631stMark Barnaba$223k
746thSharon Warburton$170k
Ranked by total remuneration from all listed WA companies

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