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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Total Shareholder Return as at 28/02/18

1 year TSR5 year TSR
154thMineral Resources76%16%
205thNorthern Star Resources53%50%
539thFortescue Metals Group-18%6%
661stAtlas Iron-38%-56%
711 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
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1st-Fortescue Metals Group$10,999.7m
4th-Mineral Resources$1,470.4m
5th↓Atlas Iron$896.6m
6th↓Northern Star Resources$850.6m
503 listed resources companies ranked by revenue.
Source: Morningstar

Remuneration from Fortescue Metals Group

608thMark Barnaba$223k
719thSharon Warburton$170k
780thElizabeth Gaines$161k
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