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Nev Power said compensation on the basis of mineral wealth of the land was excluded from the claim under the Native Title Act. Photo: Attila Csaszar

Mineral wealth excluded from compo claim: Power

Fortescue Metals Group chief executive Nev Power says the value of minerals would be excluded from its looming compensation battle against the Yindjibarndi people, but that claim has been disputed by the native title group's legal team.

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Essendon Victoria 3040
No amount of money will probably ever be adequate to compensate the Yindjibarndi people for their loss of cultural and ceremonial access, however, it is unconscionable for Fortescue Metals Group CEO Nev Power to float the suggestion that the value of minerals would be excluded from the claim for compensation. It's time to make some sort of retribution for the damage the Yindjibarndi have suffered for far too long at the hands of Fortescue Metals Group.

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BN30 Index

Index = 100 as of 4 Jan 2016
Source: Morningstar

Total Shareholder Return as at 31/01/19

1 year TSR5 year TSR
137thOM Holdings22%18%
141stFortescue Metals Group20%6%
270thSouth32-3%
323rdIluka Resources-11%2%
342ndMineral Resources-13%12%
726 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
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Share Transactions

18/12/18
$0 Issued
30/11/18
$117.6m Bought
21/11/18
$23.2m Bought
Total value as at the date of the transaction
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Revenue

1st↑South32$10,519.6m
2nd↓Fortescue Metals Group$9,358.7m
4th-Mineral Resources$1,706.7m
5th↑Iluka Resources$1,079.2m
6th↑OM Holdings$996.7m
504 listed resources companies ranked by revenue.
Source: Morningstar

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