Australia’s richest couple, Andrew and Nicola Forrest, have separated but insist the strategic direction of the mining giant they control, Fortescue Metals Group, will not be affected by their decision to pursue independent lives.

The Forrests confirmed the demise of their 31-year marriage after being approached by The Australian Financial Review about a transaction last month that moved more than $1.1 billion worth of Fortescue shares into a new company called Coaxial Ventures, which is wholly owned by Nicola Forrest.