Australian iron ore miner Fortescue Metals Group has reported a minor drop in shipments for the December 2016 quarter.
Australian Mining brings readers the latest corporate appointments and departures in the local and international mining industry, including the appointment of a managing director at Doray Minerals and Fortescue’s new CFO.
Fortescue Metal Group’s credit rating has been upgraded by S&P Global Ratings in a sign that the company’s productivity and efficiency initiatives are working.
Fortescue Metals Group continues to reduce its debt with the company saying a further US$1 billion ($1.36 billion) will be repaid next week.
Current Fortescue Metals operations director Nick Cernotta will join the board of Pilbara Minerals at the start of 2017.
Fortescue Metals has been given the environmental go-ahead to expand the Solomon iron ore operation in Western Australia.
Two top FMG executives Stephen Pearce and Nick Cernotta, are stepping down from the company.
Following its positive end of year results Moody’s has upgraded FMG’s credit rating.
Fortescue has reported US$985 million in profit in its latest end of year results, a 212 per cent increase year on year.
Fortescue Metals Group has released the latest figures on its current ore reserves and mineral resources.
Fortescue Metals has highlighted how its debt strategy is starting to pay dividends for the miner at Diggers & Dealers.
Moody’s has upgraded Fortescue’s outlook to stable, affirming its rating at Ba3.
Fortescue Metals Group has continued its focus on reducing debt, paying off US$500 million from its 2019 term loan.
Fortescue Metals subsidiary The Pilbara Infrastructure has been fined for an incident which saw the double amputation of a worker’s legs.
Nearly a third of capital expenditure spent by the top 40 major miners since 2010 has been wasted, according to a new PricewaterhouseCoopers’ report.
Fortescue’s subsidiary Pilbara Marine has won the tender for the second towage licence at Port Hedland.
Fortescue has celebrated its ‘lucky eight’ year anniversary of its first shipment to Chinese customers.
Iron ore’s rally appears to be receding, as the metal slides below US$60 per tonne.
Fortescue has issued a US$650 million repayment notice for its 2019 secured term loan, a week after it began the repayment of US$577 million worth of notes last week.
Fortescue Metals executive director Peter Meurs has quit the miner to join The Church of Jesus Christ of Latter-day Saints. He has reportedly accepted a full time international role with the religious group, with his resignation taking effect as of today. Meurs has been with the company since 2010 as ‘director development’, stepping into a … Continue reading Peter Meurs quits FMG to join the Mormons