“We have asked FMG to reconsider their decision and they have advised us they will only pay the royalties when we sign off the mining leases. We did not know that we would be locked out of our own country. “It escalates to the CEO and stops. The miner had promised to export no more than 175 million tonnes in the year to June 30, but a strong performance over the past nine months prompted it to upgrade that target to as much as 177 million tonnes on Thursday. It is the first time Fortescue has been net cash since it became an exporter in 2008, and marks a victory in its decade-long battle against a dangerously high debt load, which gave the company a near-death experience in September 2012 when iron ore prices suddenly slumped. While the Democratic hopeful rests up ahead of this week's crucial debate, President Trump's return to the fray has given his supporters hope the 2020 race is still alive. “These were nine mining leases we were asked to sign about a year ago,” Bevan said. Toggle Menu. 6 Oct 2020. Premier Daniel Andrews signalled restrictions on retail and hospital will be eased early as Victoria's numbers dwindle to nothing. 11 Sep 2020. "We are committed to investment in the Pilbara and job creation and are focused on working with the state government to ensure that Fortescue continues to be a significant long-term contributor to the state and national economy through growth and development of our iron ore assets.".
That would make fiscal 2020 a year of records for the company, which is on track to deliver record exports, record profits and has in recent months seen its shares rise to their highest ever price on the ASX. FMG chief Elizabeth Gaines is overseeing a near perfect year for the miner. FMG, New Zealand’s leading rural insurer says nesting birds continue to account for around $700k worth of tractor fir... 25 September 2020 / Client Stories Marion and Graham Hirst - Hawkes Bay Orchardists There are no penalties for non-compliance so the breaches continue. Devastated PKKP representatives gave evidence on Monday, saying Rio Tinto “didn’t want to know” about the importance of the Juukan Gorge site which it blew up in May to extract $188 million worth of high-grade iron ore. Rio had approval under WA’s outdated Aboriginal Heritage Act to destroy the site but failed to act on expert reports noting it was among the most significant in Australia. Yamatji Marlpa Aboriginal Corporation (YMAC), which represented the PKKP traditional owners of Juukan Gorge over the nine years they spent negotiating a binding initial agreement with Rio Tinto, said it expressed concerns about the “non-objection clauses” on numerous occasions during the negotiations. "In line with our strategy to deliver growth through investment in significant projects, including the $US2.6 billion investment in the Iron Bridge high-grade magnetite project, we have applied to the WA Department of Water and Environmental Regulation to increase the licensed capacity of Fortescue’s Herb Elliott Port. Follow live updates here.
Earlier, the inquiry heard that Rio Tinto could not be persuaded to back down from inserting a “gag” clause in the agreement it was making with the traditional owners of the Juukan Gorge in the Pilbara, despite appeals to senior executives before the agreement was signed in 2006.
While Fortescue has defied the trend for export downgrades, it joined another trend sweeping the Australian resources sector by downgrading expectations for investment in new projects. But, he said, WGAC had now stopped issuing dispute notices “because there’s no point”.
FMG is withholding $1.9m in royalties it owes to the Wintawari Guruma Aboriginal Corporation (WGAC), which was due to be paid on 31 January.
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