Fortescue Metals Group CEO discusses the company s Billion Opportunities program 13/06/2021|2min
Fortescue Metals Group CEO Elizabeth Gaines has spoken about the company s Billion Opportunities program and the impact it s having.
Ms Gaines spoke to Sky News Business Editor Ross Greenwood about the program. It s 10 years since we launched our Billion Opportunities program, Ms Gaines said. So, in 2011 we made a decision to target awarding a billion dollars of contracts to Aboriginal businesses and joint ventures. In 2018, we were able to celebrate $2 billion being achieved and then here we are today, $3 billion in contracts awarded to Aboriginal businesses.
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Fortescue Metals Group boss Elizabeth Gaines has hosed down concerns that the revival of Brazilian producer Vale or China backing development of the Simandou deposit in west Africa will crimp Australia’s economy-defining iron ore exports. Ms Gaines told the Australian Shareholders’ Association conference that Simandou was a very complex project and its likely development was .
Fortescueâs Iron Bridge blowout may top $1b
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Fortescue Metals Group is willing to increase its stake in the troubled Iron Bridge magnetite project if Chinese steel giant Baowu baulks at the bigger-than-expected cost and schedule blowouts disclosed on Friday.
Iron Bridge will cost as much as $US900 million ($1.16 billion) more to build, could take up to a year longer than expected to reach full production and will have higher operating costs once in production.
The updated construction cost of between $US3.3 billion and $US3.5 billion means the blowouts are roughly double the maximum $US400 million disclosed to investors in February, despite the scope of the project being largely unchanged.
The three-storey home, in the exclusive gated community of Windy Dropdown in North Curl Curl on Sydney s Northern Beaches, was listed last month with a price guide of $7.5million to $8million