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Fortescue Metals Group Ltd (FMG.AX)

FMG.AX on Australia Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Fortescue Metals Group says court's decision on Solomon Mine native title fight has no impact on operations
2:45am EDT 

July 20 (Reuters) - Fortescue Metals Group Ltd :Court's decision has no impact on current and future operations or mining tenure at Solomon Hub.Have no commercial concerns and do not anticipate any material financial impact following court's determination.Comments on Warrie (formerly TJ) (on behalf of Yindjibarndi people) versus state of Western Australia decision.  Full Article

Fortescue Metals responds to media speculation on production
Monday, 17 Jul 2017 09:24pm EDT 

July 18 (Reuters) - Fortescue Metals Group Ltd :Fortescue response to media speculation on production.Advises report in Australian newspaper is referring to terms of environmental approval being sought for future eliwana mine development.Environmental approvals referenced are based on estimated annual production of 30 mtpa.This is consistent with normal approval processes and does not reflect Fortescue's production guidance.  Full Article

Cimic Group says Thiess awarded $650 million solomon extension
Monday, 3 Jul 2017 10:21pm EDT 

July 4 (Reuters) - Cimic Group Ltd :Cimics Thiess awarded $650 million solomon extension.‍Contract extension will involve Thiess continuing to deliver mining services at Solomon until 2020​.  Full Article

Decmil Group awarded new contract
Wednesday, 31 May 2017 09:31pm EDT 

June 1 (Reuters) - Decmil Group Ltd ::‍Decmil Australia has been awarded new construction contract by Fortescue Metals Group​.Contract for about $21 million.  Full Article

Fortescue Metals successfully completes unsecured notes offering
Wednesday, 10 May 2017 01:29am EDT 

May 10 (Reuters) - Fortescue Metals Group Ltd -:Fortescue successfully completes unsecured notes offering.Completed an offering of senior unsecured notes, initially launched at us$1,000 million which was subsequently upsized to us$1,500 million.  Full Article

Fortescue Metals Group launches high yield bond offering
Monday, 8 May 2017 07:06pm EDT 

May 9 (Reuters) - Fortescue Metals Group Ltd :Fortescue launches high yield bond offering.Proceeds from this issue will be used to repay existing indebtedness.Fortescue metals group ltd & relevant subsidiaries have launched a bond offering for US$1,000 million of senior unsecured notes.  Full Article

Fortescue Metals Group says qtrly total ore shipped including third party product 39.6 mln tonnes
Wednesday, 12 Apr 2017 07:38pm EDT 

Fortescue Metals Group Ltd : Qtrly total ore shipped including third party product 39.6 million tonnes versus 42 million tonnes a year ago . Qtrly ore mined 44.7 mt versus 43.4 mt last year . "We remain on track to deliver our guidance of between 165 and 170 million tonnes for full year at a c1 cost of us$12-13/wmt" . Qtrly c1 costs us$ 13.06/wmt versus us$ 14.79/wmt last year . Sees fy17 sustaining capital expenditure of us$2.00/wmt subject to key variables such as oil price, foreign exchange rates and inflation . Sustaining capital is expected to be between us$3.00 and 3.50/wmt in fy18 . Has lowered fy17 price realisation guidance to between 75 and 85 per cent of platts 62 cfr index .Over longer term, average price realisation for fortescue products is expected to revert to historical levels.  Full Article

Fortescue Metals announces US$1 bln repayment of 2019 term loan
Thursday, 23 Mar 2017 05:46pm EDT 

Fortescue Metals Group Ltd : Fortescue announces US$1 bln repayment of 2019 term loan . Issued a US$1.0 billion repayment notice for 2019 senior secured credit facility . "This US$1.0 billion payment continues our debt reduction strategy lowering our all in cost position and reducing 2019 debt to less than US$1.0 billion." . "Will continue to prioritise free cash flow for debt reduction" . Following this repayment, outstanding balance of 2019 term loan will be reduced to US$976 million .Term loan repayment will generate annual interest savings of approximately US$38 million.  Full Article

Fortescue Metals maintains FY17 guidance for iron ore shipments
Tuesday, 21 Feb 2017 05:44pm EST 

Fortescue Metals Group Ltd : Achieved further improvement in our c1 costs to us$13.06/wmt and shipped 86.1 million tonnes for half year, slightly ahead of targets . FY17 guidance is maintained for iron ore shipments of 165-170 million tonnes with a c1 cost of us$12-13 per wet metric tonne . "Will continue to repay debt" .A$0.20 per share fully franked interim dividend represents a net profit payout ratio of 38 per cent.  Full Article

Fortescue Metals says HY revenue from ordinary activities rises 34 pct
Tuesday, 21 Feb 2017 05:44pm EST 

Fortescue Metals Group Ltd : hy operating sales revenue $4,492 million versus $3,344 million last year . hy profit after income tax $ 1,222 million versus $319 million a year ago . directors declared an interim fully franked dividend of 20 australian cents per share, payable on 6 april 2017 .at 31 December 2016, fortescue's net debt position decreased to us$3,996 million (30 June 2016: us$5,188 million).  Full Article


Australian court rules in favor of indigenous group in Fortescue mining land case

SYDNEY Australia's Federal Court has ruled in favor of an indigenous Aboriginal group's claims over land used by Fortescue Metals Group to mine millions of tonnes of iron ore in Western Australia's Pilbara region.