Festival of Forrest: Twiggy’s ‘tough years’
Twiggy arrived at Fortescue’s 20th anniversary party riding a massive dump truck and waving a giant flag before joining Jimmy Barnes on stage.
Fortescue Metals
ASX 200 flat; Magellan soars; Domain dives
Bourse has worst week in 12 months. Magellan gets special dividend boost. China’s Evergrande files for US bankruptcy cover. BHP, Rio and Fortescue up on iron ore price jump.
Fortescue faces $1bn compo costs in Solomon mine case
Andrew Forrest and Fortescue Metals Group have refused to cut a royalty deal with the Yindjibarndi people for more than a decade. That decision could cost the miner $1bn.
ASX 200 ends down 0.2pc; health care weakest
TPG Capital cuts bid price for InVoCare. Iron ore chaos if China cuts steel production, Goldman Sachs warns. Fortescue in court over Aboriginal compensation. Bain, Estia Health sign takeover deal. Westpac ups house price growth.
More delays amid export records from Fortescue
Over time and over budget, Fortescue’s Iron Bridge is finally into production – but won’t hit full export rates for some time.
FMG ‘cautiously optimistic’ on China
And despite talk that supply across the market is rising, Fortescue Metals CEO Fiona Hick continues to see strong demand from China.
Five-month high for ASX; Megaport soars
US rate rise boosts optimism. Megaport earnings up after first cash positive quarter. Weak conditions hit Macquarie. Fortescue down after weak FY24 iron export guidance.
ASX closes up; miners lead top gainers
Materials and energy sectors lead ASX higher. Pilbara jumps on record quarterly production. Victoria to feel debt pinch, warns Moody’s. Merlon’s value fund tops the active fund list, according to Mercer.
ASX rises; Westpac to overhaul ops
Rio down as iron operations track stability. Fortescue shares fall on ratings cut. Ampol lifts despite earnings decline. Northern Star tanks.
Russian hackers take aim at Forrest’s Fortescue
Russian hackers claim they have breached the ASX-listed mining giant, capping another tumultuous week for the firm led by Andrew Forrest.
ASX slides on ‘hawkish’ RBA; Ansell dives
Sentiment turns as RBA minutes warn of more rate rises. Ansell to slow production. Aurizon sees FY24 boost. EY to release review in weeks. Russian hackers claim Fortescue breach.
Fortescue still has questions to answer
If an external investigation of allegations about Andrew Forrest found no substance, why won’t Fortescue answer questions about how and when it was conducted?
Forrest cleared in Fortescue probe
Andrew Forrest was investigated and cleared by lawyers over his behaviour after an anonymous letter was circulated.
All eyes turn to Tattarang after Forrests split
Fortescue investors don’t appear perturbed by the split of Andrew and Nicola Forrest but questions are being raised about the effect it will have on their private investment arm, Tattarang.
How Forrest split drives $77m cash stream for Nicola
Nicola Forrest’s independent shareholding of Fortescue shares will deliver an income stream worth more than $77m this financial year.
Twiggy overtaken by woman of now independent means
Nicola Forrest is wealthier than mining magnate Andrew Forrest, the husband from whom she has separated, thanks to a few lines on a notice recently sent to the ASX.
Does the Forrest split put Fortescue up for grabs?
The shock separation of Andrew and Nicola Forrest raises questions over the leadership, direction and even eventual control of the would-be energy giant.
ASX rises 1.6pc; best day in six months
Gold miners pace gains after US CPI print. INPEX takes 50 per cent Enel Green Power stake. Origin gets $70m from Labor for hydrogen project. Domestic air fares at one-year low.
Fortescue Metals interest wanes in Alinta process
APA Group looks poised to buy Alinta’s $1bn parcel of assets on offer after the Andrew Forrest-led Fortescue Metals is said to have taken its foot off the gas.
APA, Fortescue lead race as Alinta raises sale stakes
Alinta Energy is now understood to be set on selling all of the West Australian assets it has on offer, and the understanding is that offers have landed between $1bn and $1.5bn.
Fortescue’s Iron Bridge delivery pushed back
First shipments of concentrate from the mine are now due to be loaded at Port Hedland in July which is slightly later than had been anticipated.
ASX snaps loss streak; Collins Foods soars 18pc
Collins Foods jumps on eight-month high after earnings beat. Iron ore in biggest jump since May. Bega to sell $115m Port Melbourne site. Medibank falls on APRA’s $250m hit.
Of midnight pegging, FMG and lithium …
In our new, intriguingly named, Midnight Pegging column (we do explain), we examine Fortescue’s move to snap up prospective WA lithium deposits.
Forrest’s multi-billion-dollar shares donation
Iron-ore baron Andrew Forrest will transfer one-fifth of Fortescue Metals Group shares to his philanthropic arm.
Fortescue rejoins race for stake in Alinta assets
Fortescue Metals is understood to have been invited back into the final stage of the contest to buy a stake in Alinta Energy’s assets after initially failing to make the cut.
ASX rises; FMG’s best day of 2023, CSL dives 7pc
Fortescue sees strongest gain this year. CSL hammered on foreign currency hit. Gas industry to increase supply. Citi warns on coal sector. Consumer confidence at three-year low.
Transmission the biggest energy threat: Debelle
The Fortescue Future Industries director joined the chorus of energy executives concerned about the pace of developing new high-voltage transmission cables.
Gaines handed new role in shock Fortescue reshuffle
Andrew Forrest has brought back former Fortescue boss Elizabeth Gaines just three months after her replacement took office – and her paycheck is enviable.
PM’s Lowe blow over ‘no hikes until 2024’ call
Anthony Albanese uses Australia’s Economic Outlook forum to take a shot at RBA boss Philip Lowe as relations reach new lows.
ASX ends up on miners; falls 0.3pc for week
Bourse slips for a third week as CBA warns of a 50/50 recession chance. ANZ, Macquarie, NAB and CBA pass on RBA rate hike. Suncorp rebuffs ACCC concerns.
Original URL: https://www.theaustralian.com.au/topics/fortescue-metals/page/8