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September 2024 Quarterly Production Report
First Quarter Activities Report
- Oct 24, 2024
- 4 pages
This Month
- Opinion
- Governance
I sent Andrew Forrest 50 hard questions. He invited me to have a talk
After months of reporting, and only carefully worded written responses from Fortescue, I found myself with the iron ore billionaire on the company jet in the Pilbara.
- Primrose Riordan
Fortescue’s Game of Thrones moment
When the firm’s troubled Iron Bridge mine blew its budget and fell behind schedule, Andrew Forrest called a meeting likened to the series’ “red wedding” scene.
- Primrose Riordan
Employment shock; Libs leader loses trial; Forrest’s vital moment
Read everything that’s happened in the news so far today.
- Investigation
- Governance
Inside the ‘unending chaos’ at Andrew Forrest’s Fortescue
After a frenetic world tour, the billionaire had to wind back his hydrogen plans. A Financial Review investigation looks at what led to an exodus of executives.
- Primrose Riordan
- Opinion
- Chanticleer
Mercurial Forrest is approaching a vital moment at Fortescue
In coming years, Andrew Forrest must juggle growing pressure on his flagship iron ore business, a capital-hungry decarbonisation program, and a push into green iron.
- James Thomson
- Exclusive
- Governance
Fortescue executive chairman Andrew Forrest in his own words
After The Australian Financial Review sent 50 questions following an investigation, the iron ore billionaire and green energy advocate sat down for an interview.
- Primrose Riordan
China’s surprise pledge sends commodities soaring
BHP and Rio Tinto rallied with commodity prices after Beijing signalled bolder support for the world’s second-largest economy next year.
- Updated
- Joanne Tran
- Analysis
- AGM season
Wine, coffee and shortbread biscuits: Inside this year’s AGM season
“Why can’t you pay dividends in gold instead of cash?” one investor asked the mining company’s board. “I want to hang a chunk from a necklace.”
- Mark Wembridge
November
Rio Tinto faces $400m bill amid Pilbara native title water squeeze
The Yindjibarndi Aboriginal Corporation has asked officials to limit groundwater extraction, forcing big miners and gas developers to scramble for more supply.
- Peter Ker
Forrest makes ‘dollars and cents’ appeal to climate sceptic Trump
The US president-elect has already reached out to the Fortescue boss, who has switched from environmental rhetoric to the language of economic rationalism.
- Hans van Leeuwen
Outback property the size of Sydney once coveted by Twiggy now on sale
Mining giant Fortescue has ditched plans to develop a renewable energy project on Rawlinna Station, which is Australia’s largest sheep station.
- Larry Schlesinger
Fortescue Energy chief quits religious group board amid staff concerns
Mark Hutchinson is no longer a director of Alpha Australia National Office, whose evangelical attitudes towards sex have displeased many employees.
- Peter Ker
October
Whyalla steelworks boss exits in Sanjeev Gupta shake-up
A former Fortescue Metals executive who ran the plant for two years is departing as the British industrialist sets up an urgent “Back to Black” taskforce to try to stem losses.
- Simon Evans
‘I have let you down’: Fortescue’s Hutchinson apologises to gay staff
Fortescue chairman Andrew Forrest says his leaders are required to back equality, prompting a mea culpa from energy boss Mark Hutchinson.
- Peter Ker
Fortescue’s Hutchinson breaks sex silence as Rio inks gay pride deal
He’s a director of a religious group that broadcasts a strictly hetero, gender binary view of sex, but Fortescue boss Mark Hutchinson says he loves diversity.
- Peter Ker
Fortescue boss a leader of church group against homosexuality
The chief executive of the company’s energy division is a director of Alpha International, which also preaches that prayer can cure cancer and crossed eyes.
- Peter Ker
- Exclusive
- Mining
Fortescue pushes Canberra for emissions policy review
Fortescue has warned the West Australian government against palming off responsibility for greenhouse emissions to Canberra.
- Tom Rabe
Andrew and Nicola Forrest stand down as Minderoo Foundation co-chairs
The charity was founded in 2001 to direct the family’s philanthropic efforts. Former Melbourne University chancellor Allan Myer will take over as chairman.
- Tom Rabe and Peter Ker
Whitehaven accused of paying ‘overly generous’ bonuses
Whitehaven Coal and a big proxy adviser are at odds over a recommendation shareholders lob a second strike over executive pay.
- Peter Ker
Fortescue pushes for diesel fuel credit to be tied to emission cuts
Fortescue says the Albanese government should consider tying lucrative fuel tax credits to decarbonisation efforts for Australia’s mining giants.
- Tom Rabe and Elouise Fowler