Fortescue Metals Group, the mining company owned by Andrew “Twiggy” Forrest, has angered shareholder activists by rejecting their resolution for a … “That FMG considers themselves above this rule of thumb is totally out of step with community and investor expectations.”. Speaking to the ABC earlier this week, native title expert and former WA Law Society president Greg McIntyre described FMG's argument as a "hard-nosed approach". Mining company owned by Andrew Forrest says paper copies arrived after the ‘applicable cut-off date’, Last modified on Wed 16 Sep 2020 04.55 EDT. The centre’s Brynn O’Brien said Fortescue had knocked back an important resolution “on a minor technicality”. Fortescue Metals Group Ltd. published this content on 05 May 2020 and is solely responsible for the information contained therein. Get the latest BBC World News: international news, features and analysis from Africa, the Asia-Pacific, Europe, Latin America, the Middle East, South Asia, and the United States and Canada. Recent News 29 Oct 2020 Fortescue Metals Group Provides September 2020 Quarterly Production Report : 24 Aug 2020 Fortescue Metals Reports NPAT Up 48.57% to $4,735m for the Year to 30 June 2020: 04 Sep 2020 We say what people are thinking and cover the issues that get people talking balancing Australian and global moments — from politics to pop culture. Nov 9, 2020 Fortescue Metals Group (Fortescue) has signed 12 Memoranda of Understanding (MOUs) with major Chinese steel mills, procurement partners and financial institutions on the sidelines of the third China International Import Expo (CIIE 2020), valued cumulatively in the range of US$3 to US$4 billion. Stock analysis for Fortescue Metals Group Ltd (FMG:ASE) including stock price, stock chart, company news, key statistics, fundamentals and company profile. YAC's lawyers loudly exclaimed, while Fortescue's representative, Mr Walker, quickly left the room. Fortescue signs 12 Memoranda of Understanding at the China International Import Expo. Australia, through the CEO of Fortescue Metals Group (FMG) Andrew Forrest, is eyeing the development of Indonesia’s geothermal environmentally friendly energy of 25 GW. Most of the Yindjibarndi people are based in the small Pilbara town of Roebourne and were not in court for the decision, which was handed down in Brisbane but streamed to court rooms in Perth and Sydney. Mining Iron ore Coronavirus (COVID-19) WA News Australia. Yindjibarndi Aboriginal Corporation's legal representative Tina Jowett said it was a "brilliant outcome" for the traditional owners. “That they are doing this to avoid shareholder scrutiny of their relationships with Aboriginal traditional owners begs the question, what are they hiding?”. View real-time stock prices and stock quotes for a full financial overview. Apr 6, 2020. Recent News 29 Oct 2020 Fortescue Metals Group Provides September 2020 Quarterly Production Report : 24 Aug 2020 Fortescue Metals Reports NPAT Up 48.57% to $4,735m for the Year to 30 June 2020: 04 Sep 2020 In the News. It has four mine sites in the Pilbara region and also operates designed rail and port facilities for supply to Port Hedland. Australia stocks higher at close of trade; S&P/ASX 200 up 0.38% By Investing.com - Dec 03, 2020 Are you already a subscriber? 11 Nov 2020 Fortescue’s values and culture highlighted at 2020 Annual General Meeting Distributed by Public, unedited and … FMG is an Australian iron and nickel mining company that is among the top 10 in the world. FMG | Complete Fortescue Metals Group Ltd. stock news by MarketWatch. The company has holdings of more than 87,000 km 2 in the Pilbara region of Western Australia, making it the largest tenement holder in the state, larger than both BHP Billiton and Rio Tinto. Fortescue’s values and culture highlighted at 2020 Annual General Meeting. Stuart McKinnon The West Australian. Western Australia's Pilbara region has been home to Pansy Sambo's ancestors for centuries. Australia shares rise as financials cap losses in miners By Reuters - Dec 04, 2020 Speaking to the ABC from Roebourne, Yindjibarndi Aboriginal Corporation's chief executive Michael Woodley said they "clapped and cheered" when the news arrived. “Fortescue is assessing the validity of the notice, including whether it complies with the requirements of the Corporations Act,” Wilson said in the statement to the ASX. FMG had been operating the mine without an agreement with the Yindjibarndi people, after negotiations broke down in 2008. The High Court decision has failed to scare investors, with the company's share price closing up 17 cents on Friday to $13.69 a share, valuing Mr Forrest's stake at $15.2 billion. 11 Nov 2020. Fortescue announces development study into green ammonia plant in Tasmania. View real-time stock prices and stock quotes for a full financial overview. FMG's High Court challenge was led by Bret Walker SC, one of Australia's most eminent silks and barrister for George Pell's recent High Court acquittal. It has announced it will set up a heritage advisory council with Banjima native title holders to inform the design of its $4.5bn South Flank iron ore mining operation. She said the Yindjibarndi had "never got a cent" from FMG. Electronic copies were sent to FMG before the deadline, O’Brien said, “with enough time for FMG’s lawyers to do the necessary checks to determine shareholder eligibility”, while the physical documents were couriered via an express overnight service. FMG News This page features the latest news about the Fortescue Metals stock. The head of an Aboriginal corporation in Western Australia's Pilbara says he can "give the next generation hope" after mining giant Fortescue Metals Group lost its High Court bid against a native title determination covering one of its iron ore mines. In its submission to the court, the company was contesting the concept of exclusive native title. Rio Tinto’s blasting of Juukan Gorge has sharpened attention on other mining operations in the Pilbara, with big institutional investors calling for companies to do more to protect Aboriginal heritage. Fortescue Metals Group confirms it is investigating the development of a green ammonia plant in Bell Bay, Tasmania, which has been announced as a successful participant in the Tasmanian Government’s Renewable Hydrogen Industry Development Funding program. BHP will appear before a Senate inquiry on Thursday to answer questions about its Pilbara operations, especially arrangements with the Banjima traditional owners. That goes to show how far Covid has required all of us to make major adjustments to the way we live and work,” O’Brien said. FMG signed MoUs with long-term partner and major shareholder Hunan Valin Iron & Steel Group Co for the supply of iron ore and procurement opportunities, as well as the Bank of China, Sydney Branch (for strategic cooperation. The failed bid to the High Court came after the $41 billion company lost a Federal Court appeal last year where five judges unanimously decided to uphold the Yindjibarndi people's native title rights. The company was seeking to contest the exclusive possession rights of the Yindjibarndi people over land in the Pilbara that includes the site of its multi-billion-dollar Solomon mine hub. When the courier delivery was delayed for Covid-related reasons, the ACCR immediately notified FMG, O’Brien said. Legal representatives for Fortescue, YAC and the WA State Solicitor's Office all made brief arguments in court. The legal dispute with FMG began in 2017, after the traditional owners were awarded exclusive native title — after applying in 2003 — over a parcel of land that included Fortescue's Solomon Mine Hub.
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