Nev Power, the chief executive officer of Fortescue, has been awarded the 2017 Mines and Money Legend in Mining award at the International Mining and Resources Conference (IMARC) in Melbourne.
Power has been in the industry for over 30 years and has led Fortescue for the past six; he plans to step down from his position as Fortescue CEO early next year. Previously, he served in high-profile positions as the CEO of Thiess and Smorgon Steel, and is a fellow of both the Australasian Institute of Mining and Metallurgy (AusIMM) and Engineers Australia. Since he joined Fortescue, the company has quadrupled production to 170 million tonnes per annum and reduced production costs to $12 per tonne.
“His leadership of Fortescue over the past six years — including through some of the company’s most challenging times — has been exemplary,” said Asia Pacific general manager of IMARC Anita Richards. “I have no doubt the team at Fortescue will miss him greatly when he steps down as CEO early next year.
“Fortescue’s position as a leader in iron ore is absolutely without question, and its strong position in a time of global instability is a testament to Nev’s strategic nous, persistence and dedication to excellence.”
Power described his time with the company as “an absolutely amazing journey” and that his greatest achievement was helping to build a strong company culture.
“I have mixed feelings about leaving the company of course,” he added, “but I’m very excited for Fortescue’s future — 2018 is going to be an exciting year for mining across the globe.”