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Civmec Secures A$175 MLN In New Contracts
Fortescue Extends Share Buy-Back Programme
Primero Group Gets New Contract Awards Totaling About A$55 Mln
Fortescue Metals Group Limited (Fortescue) is engaged in the exploration, development, production, processing and sale of iron ore. Fortescue owns and operates a fully integrated infrastructure and supply chain including five berth Herb Elliott Port in Port Hedland, the Judith Street Harbour towage infrastructure and the heavy haul railway covering 620 kilometers (km) of track. The Company is developing the Eliwana Mine and Rail Project and the Iron Bridge Magnetite Project. The Chichester Hub, which includes the Cloudbreak and Christmas Creek mines, is located in the Chichester Ranges. The Solomon Hub is located in the Hamersley Ranges, and includes the Firetail and Kings Valley mines, which produce in excess of 70 million tons per annum (mtpa). Its Iron Bridge project is located over 145 kms south of Port Hedland. Its Eliwana Mine and Rail development includes 143km of rail and a 30mpta dry ore processing facilities.
Level 2 87 Adelaide Terrace, East Perth
John Andrew Henry Forrest
Non-Independent Non-Executive Chairman of the Board
Elizabeth Anne Gaines
Chief Executive Officer, Managing Director, Executive Director
Deputy Chief Executive Officer
Mark B. Barnaba
Non-Executive Deputy Chairman of the Board, Lead Independent Director
Chief Financial Officer
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Australian mining billionaire Andrew Forrest said his private company bought bootmaker R.M. Williams from a fund backed by French fashion giant LVMH Moet Hennessy Louis Vuitton SE, returning ownership of the famed fashion label to its home country after six years.
Australian mining billionaire Andrew Forrest said his private company bought bootmaker R.M. Williams from a fund backed by French fashion giant LVMH Moet Hennessy Louis Vuitton SE <LVMH.PA>, returning ownership of the famed fashion label to its home country after six years.
An Australian Aboriginal group said on Tuesday that Fortescue Metals <FMG.AX> is withholding nearly A$2 million ($1.4 million) in royalty payments until it signs off on mining leases that cover areas containing many sacred sites.
An Australian Aboriginal group said on Tuesday that Fortescue Metals is withholding nearly A$2 million ($1.4 million) in royalty payments until it signs off on mining leases that cover areas containing many sacred sites.
An Australian Aboriginal group whose sacred rockshelters Rio Tinto <RIO.AX> destroyed in May said on Monday that iron ore miner Fortescue Metals Group <FMG.AX> applied last month for a mining licence on the surrounding area without notifying them.
* Shareholder resolution calls for halt on impact to sacred sites
Australia's Fortescue Metals Group Ltd must commit to not damaging or disturbing cultural heritage sites in Australia and lift confidentiality provisions on Aboriginal owners, a shareholder group said in a resolution filed on Thursday.
* Net profit jumped 49% to $4.74 bln from $3.19 bln (Adds analyst comment, detail, share price movement)
Australian miner Fortescue Metals Group won a tender to supply HBIS Group Co Ltd with an iron ore spot cargo that will be paid for in yuan, the Chinese steelmaker said on Monday.
* Boost from strong demand in China on Beijing stimulus measures
* Sees steady economic recovery in China, ongoing demand (Adds analyst comment, share price reaction)
Australian shares gained on Thursday as risk appetite improved after encouraging trial results of an experimental COVID-19 treatment, a rally in crude oil prices and assurances of support from the U.S. Federal Reserve to help the battered economy.
Fortescue Metals Group Ltd on Thursday reported a 10% rise in third-quarter iron ore shipments compared with a cyclone-hit period last year, and raised its annual shipments forecast despite the coronavirus pandemic.
* SHIPMENTS CONTINUE FROM PORT HEDLAND AND MINING AND PROCESSING ACTIVITY REMAINS IN LINE WITH GUIDANCE FOR FY20
Billionaire Andrew Forrest raised his stake in Fortescue Metals Group, snapping up a further A$242.9 million ($160.2 million) in the Australian iron ore miner he founded, and praised the group's environmental credentials.
Iron ore futures in China edged higher in early trade on Wednesday, hovering around a nearly one-month high hit in the previous session, despite miner Fortescue Metals Group maintaining its shipments' estimate for fiscal 2020.
Australian miner Fortescue said that its iron ore shipments remain on schedule and that it had not had any issues with customer payments as a result of the coronavirus outbreak in its main market of China.
Australia's key iron exporting ports have been cleared ahead of a cyclone that is due to make landfall on Saturday, the port authority said on Friday.
* Shares down 12% since coronavirus impact (Adds comments on coronavirus from chief executive)
China's steel production is expected to grow only modestly this year, driven by rising urbanization and Belt and Road Initiative projects, Australia's Fortescue Metals Group chief executive Elizabeth Gaines said on Wednesday.
Quote and financial data from Refinitiv. Fund performance data provided by Lipper. All quotes delayed a minimum of 15 minutes.