Level 2, 87 Adelaide Terrace, East Perth, Western Australia 6004 PO Box 6915, East Perth, Western Australia 6004 P +61 8 6218 8888 E fmgl@fmgl.com.au W www.fmgl.com.au. The failed bid to the High Court came after the $41 billion company lost a Federal Court appeal last year where five judges unanimously decided to uphold the Yindjibarndi people's native title rights. FMG signed MoUs with long-term partner and major shareholder Hunan Valin Iron & Steel Group Co for the supply of iron ore and procurement opportunities, as well as the Bank of China, Sydney Branch (for strategic cooperation. The legal dispute with FMG began in 2017, after the traditional owners were awarded exclusive native title — after applying in 2003 — over a parcel of land that included Fortescue's Solomon Mine Hub. Latest Share Price and Events Stable Share Price : FMG is not significantly more volatile than the rest of Australian stocks over the past 3 months, typically moving +/- 6% a week. O’Brien said it called into doubt Fortescue’s “interest in dealing with the important issues raised by its shareholders and indeed Aboriginal traditional owners”. Australia stocks higher at close of trade; S&P/ASX 200 up 0.38% By Investing.com - Dec 03, 2020 It has four mine sites in the Pilbara region and also operates designed rail and port facilities for supply to Port Hedland. FMG's High Court challenge was led by Bret Walker SC, one of Australia's most eminent silks and barrister for George Pell's recent High Court acquittal. (ABC News: Emma Machan). View today’s FMG share price, options, bonds, hybrids and warrants. Recent News 29 Oct 2020 Fortescue Metals Group Provides September 2020 Quarterly Production Report : 24 Aug 2020 Fortescue Metals Reports NPAT Up 48.57% to $4,735m for the Year to 30 June 2020: 04 Sep 2020 Recent News 29 Oct 2020 Fortescue Metals Group Provides September 2020 Quarterly Production Report : 24 Aug 2020 Fortescue Metals Reports NPAT Up 48.57% to $4,735m for the Year to 30 June 2020: 04 Sep 2020 "My congratulations to the Yindjibarndi people for the patience, grace and determination they have demonstrated since first lodging this claim in 2003," he said. This page was last updated on 12/8/2020 by MarketBeat.com Staff Most of the Yindjibarndi people are based in the small Pilbara town of Roebourne and were not in court for the decision, which was handed down in Brisbane but streamed to court rooms in Perth and Sydney. "Having that huge mine built in their land … they deserve to get compensation so they can benefit their community," she said. Fortescue’s values and culture highlighted at 2020 Annual General Meeting. View real-time stock prices and stock quotes for a full financial overview. View real-time stock prices and stock quotes for a full financial overview. "I hope the divisions created through this process can now begin to heal.". Mining Iron ore Coronavirus (COVID-19) WA News Australia. Page 1 of 1 By Indigenous affairs correspondent Isabella Higgins and the Specialist Reporting Team's Nick Sas. BHP will appear before a Senate inquiry on Thursday to answer questions about its Pilbara operations, especially arrangements with the Banjima traditional owners. Western Australia's Pilbara region has been home to Pansy Sambo's ancestors for centuries. Rio Tinto’s blasting of Juukan Gorge has sharpened attention on other mining operations in the Pilbara, with big institutional investors calling for companies to do more to protect Aboriginal heritage. In a statement to the Australian Securities Exchange, FMG said it was "disappointed" with the outcome. Given that fundamentals usually drive long-term market outcomes, the company is worth looking at. Get the latest BBC World News: international news, features and analysis from Africa, the Asia-Pacific, Europe, Latin America, the Middle East, South Asia, and the United States and Canada. But its mineral-rich expanses have now brought bitter community division and court fights. “That FMG is using the pandemic to their advantage is reprehensible,” she said. He said FMG “works closely with the traditional custodians of the land on which it operates [and] … the company acts with transparency and in good faith at all times”. FMG is an Australian iron and nickel mining company that is among the top 10 in the world. "We can rest easy now, knowing this is the end. The Australasian Centre for Corporate Responsibility (ACCR) said the documents were late due to a Covid-related courier delay but electronic copies had already been filed. Are you already a subscriber? She said the Yindjibarndi had "never got a cent" from FMG. FMG | Complete Fortescue Metals Group Ltd. stock news by MarketWatch. Electronic copies were sent to FMG before the deadline, O’Brien said, “with enough time for FMG’s lawyers to do the necessary checks to determine shareholder eligibility”, while the physical documents were couriered via an express overnight service. Fortescue announces development study into green ammonia plant in Tasmania. 11 Nov 2020. The Solomon iron ore deposit was discovered by FMG geologists in 2005. The ACCR also sought similar reassurances from BHP, which agreed to put the resolutions to its next shareholder meeting in October. Fortescue Metals Group (Fortescue) and ATCO Australia (ATCO) have signed an agreement to explore the deployment of hydrogen vehicle fuelling infrastructure in Western Australia. 0 : Created with Sketch. This service may include material from Agence France-Presse (AFP), APTN, Reuters, AAP, CNN and the BBC World Service which is copyright and cannot be reproduced. ($1 = 1.3689 Australian dollars) (Reporting by Melanie Burton; Editing by … It has announced it will set up a heritage advisory council with Banjima native title holders to inform the design of its $4.5bn South Flank iron ore mining operation. Your big questions about China trade war answered, Lebanon's outgoing Prime Minister charged with negligence over Beirut port explosion, Jennifer was given approval to return to Australia for her father's funeral, but her partner wasn't, One word changed the freedoms millions of people enjoy today — human, lost a Federal Court appeal last year where, been fighting for ownership of its land since 2003, the traditional owners were awarded exclusive native title, High Court set to decide community's fate in fight for 'what's rightfully ours', 'It's our own families doing it': The heart in the darkness of a broken town, Andrew Forrest's FMG set to appeal as native title ruling hits share price, Fortescue helped fund breakaway Aboriginal group's campaign against land owners, Native title claim over Andrew Forrest's Solomon mine upheld, Indigenous (Aboriginal and Torres Strait Islander), China slugs Australian wine with more tariffs, 'We have a right to be here': National plan to eradicate racism in Australia needed, landmark report finds, Biden is trying to bend the same rule Trump did to appoint this man, but he'll need some Democrats to backflip first, Tourist town urges residents to work second job to quell worker shortage, 'Time to roll up my swag': Long-serving federal Labor MP Warren Snowdon to retire, Netball Australia set to overhaul 'outdated' governance system following independent review, US election latest: Trump says he'll intervene in Texas case — 'the big one' — but experts say it's 'laughable', Australian dollar approaching a dangerous level, economists warn, Fat fish too big to escape drains among Brisbane Airport's myriad wild residents, Reigning BBL champions upset by Hobart Hurricanes in season opener. FMG News This page features the latest news about the Fortescue Metals stock. Chief among these has been a multi-billion dollar export deal with China. We say what people are thinking and cover the issues that get people talking balancing Australian and global moments — from politics to pop culture. Apr 6, 2020. Legal representatives for Fortescue, YAC and the WA State Solicitor's Office all made brief arguments in court. However, a closer look at its sound financials might cause you to think again. FMG News This page features the latest news about the Fortescue Metals stock. In its submission to the court, the company was contesting the concept of exclusive native title. Fortescue and ATCO power on with hydrogen agreement. News Corp is a network of leading companies in the worlds of diversified media, news, education, and information services ... Fortescue Metals Group Ltd. FMG (Australia: Sydney) search. The physical documents were delivered the next morning. Fortescue Metals Group, the mining company owned by Andrew “Twiggy” Forrest, has angered shareholder activists by rejecting their resolution for a … The FMG company secretary, Cameron Wilson, said the company “respects the important right of shareholders to requisition resolutions, however, as the notice was received after the applicable cut-off date prescribed under the Corporations Act, the resolutions will not be considered at the AGM”. Fortescue Metals Group Ltd ABN 57 002 594 872. Fortescue Metals Group Limited (ASX: FMG) has seen a lot of positive news recently. Stock analysis for Fortescue Metals Group Ltd (FMG:ASE) including stock price, stock chart, company news, key statistics, fundamentals and company profile. “That FMG considers themselves above this rule of thumb is totally out of step with community and investor expectations.”. Fortescue Metals Group’s border unease amid FIFO mental health concerns. The company has holdings of more than 87,000 km 2 in the Pilbara region of Western Australia, making it the largest tenement holder in the state, larger than both BHP Billiton and Rio Tinto. "We can give the next generation some hope from this point forward.". To open the plan, Andrew Forrest met President Joko Widodo September 3, 2020. AEST = Australian Eastern Standard Time which is 10 hours ahead of GMT (Greenwich Mean Time), The Yindjibarndi's fight for what's 'rightfully ours', Investigation finds why Victoria's healthcare workers were infected in their thousands, Native title chief tips Rio Tinto could end up paying $250 million for destroying ancient caves, Kids' birthdays come and go as parents remain stuck overseas due to travel restrictions, 'More deadly than 9/11': US COVID-19 deaths hit record high, A trial of the controversial cashless welfare card will run for two more years. FMG confident it has 'de-risked' project Magnetite iron ore projects have had a chequered history both in Western Australia and globally, struggling to compete with higher grade hematite exports due to the high cost of processing the product. Speaking to the ABC earlier this week, native title expert and former WA Law Society president Greg McIntyre described FMG's argument as a "hard-nosed approach". The ACCR had sought two resolutions after Rio Tinto’s destruction of Juukan Gorge in the Pilbara in May. Stuart McKinnon. View the latest Fortescue Metals Group Ltd. (FMG) stock price, news, historical charts, analyst ratings and financial information from WSJ. Friday's decision paves the way for the Yindjibarndi Aboriginal Corporation (YAC) — the organisation representing about 800 traditional owners — to pursue what is expected to be a multi-million-dollar compensation payout for both economic loss and spiritual harm. 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