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.
Fortescue Metals
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.
ASX falls 1.7pc for week, most since March
The bourse however closed Friday higher. Mike Cannon-Brookes buys Sun Cable. Latitude cyber attack wipes profit. Humm hit with BNPL ban. WiseTech hits record high.
ASX drops 1.1pc to two-month low; miners fall
Shares record their biggest one-day fall since March. Miners pulled down by iron ore woes. Revenue fall hits Treasury Wine. Dollar hits six-month low. Megaport soars.
ASX drops; BHP, Fortescue dive on iron ore selloff
Biggest one-day drop in three weeks. Webjet rallies on strong outlook. Universal Store hits record low. SkyCity narrows guidance. Iron ore at six-month low. UBS rates Qantas a ‘buy’.
Citi on the ticket for Fortescue in Alinta auction
The competition for Alinta Energy’s assets in Western Australia is heating up with bids due at the end of the week.
FFI continues push for US-style hydrogen boost
Andrew Forrest’s green energy business will continue pushing for a US-style hydrogen tax credit as part of a $2bn budget commitment to the fledgling industry.
Forrest’s iron bet makes the grade
For Andrew Forrest, the sight of some magnetite concentrate traversing a conveyor belt in Port Hedland represented ‘the single biggest relief’ of his career.
China ‘a great rare earths partner’: Peak boss
Russell Scrimshaw helped build Fortescue Metals’ Pilbara iron ore operations. Now he has turned his attention to rare earths in Tanzania.
Bearish market not scaring iron ore big guns
Despite a bearish market – hit by falling prices as Chinese steel mills struggle – Fortescue and BHP remain upbeat about iron ore’s future.
Fortescue pushing hard on hydrogen projects
Fortescue’s first hydrogen shipments are most likely to come out of the US, with its most advanced projects still in the pre-feasibility stage.
ASX ends down 0.1pc; iron ore falls hit miners
REITs rally as miners and energy stocks fall. Iron ore at five-month low. Invocare dives as TPG walks. South32 tanks on production miss. Bluescope ups outlook on steel prices.
ASX closes down; Miners, banks lead falls
Fortescue leads miners down. Banks in the red. Essential ‘open to engage’ after MinRes buy-in. Woodside, Whitehaven gain despite weak quarter. Costa sees citrus recovery, but avocado a ‘source of frustration’.
Little to show but FFI expects unflinching support
If Fortescue Future Industries wants backing for its green hydrogen plans then evidence it can be done on an industrial scale would help – and so would retaining senior management.
FFI boss: We’re green but we’re here to make money
Fortescue Future Industries chief executive Mark Hutchinson says despite the green hydrogen sector’s fledgling status, the company is there to make a profit.
Mincor shareholders should take Forrest offer: analysts
Shaw and Partners have told Mincor shareholders to accept the $752m buyout proposal from billionaire Andrew Forrest’s Wyloo.
ASX up for sixth day; most daily rises since July
Shares at three-week high. Energy stocks up on OPEC cut, which send miners down. Karoon soars after Bauna shut-in. LNG exporters dodge curbs. Netwealth dives on outlook cut.
‘Snowflake’s chance in hell’: Forrest says China not a threat
In his first trip back to China, Andrew Forrest met with officials to stress ‘our massive submarine deal’ is for peaceful defence only and spoke out against fears Australia was at risk of invasion.
Why delayed Iron Bridge mine is so important
Fortescue Metals Group has signalled a minor delay to first production from its Iron Bridge development. But it believes the mine will be worth the wait.
‘Rapidly evolving’: Fortescue cuts jobs in cost drive
Andrew ‘Twiggy’ Forrest’s Fortescue has cut about 200 jobs in a new cost drive as the miner juggles the development of iron ore and green energy projects.
ASX tumbles 2.3pc, worst day since September
Heavy selling of major banks sends shares to their fifth straight weekly fall. Virgin IPO tour launches, Booktopia hit with $6m fine. Fortescue cuts 200 jobs. ANZ fined.
Elders’ heartbreak at Fortescue mine brawl
Two Indigenous elders at the centre of a potentially huge compensation claim against Fortescue Metals Group have told of their distress at having their traditional lands turned into mines by the company without their permission.
Mining giants expect China to deliver on targets
BHP chief executive Mike Henry and Fortescue Metals executive chairman Andrew Forrest have strongly backed the Chinese economy to recover this year.
Forrest’s green energy business targets US expansion
Fortescue Future Industries is looking to ramp up investments in the US, encouraged by Biden’s US Inflation Reduction Act for green energy projects, says Andrew Forrest.
Former RBA deputy joins super fund
Guy Debelle, fresh from his stint at Fortescue Future Industries, will join Australia’s second largest super fund as an adviser.
ASX drops to seven-week low; BHP, Downer fall
Shares tumble on falls led by materials. Downer sinks on guidance cut, $22m blunder. BHP at three-month low. TPG gains on profit beat. Fortescue trades ex-dividend.
Original URL: https://www.theaustralian.com.au/topics/fortescue-metals/page/9