3rd Quarter 2020. (previous corresponding period: US$3.24). As industry, government and the community work together to mitigate this issue, Fortescue believes that Australia's climate change goals must be managed through a nationally consistent approach that incentivises economic development and job creation. DNB Bank; DNB Boligkreditt; DNB Livsforsikring (in Norwegian only) DNB Bedriftspensjon 3Q20 (in Norwegian only) 2nd Quarter 2020. FORTESCUE Metals Group has achieved a milestone with the first ore going through the processing facility at the US$1.3 billion Eliwana mine in the Pilbara. Consolidated statement of financial position, Equity attributable to equity holders of the Company. Consolidated statement of comprehensive income, Exchange differences on translation of foreign operations, Total comprehensive income for the period, net of tax. 16-Oct-2020. Accordingly, we do not express an audit opinion. For previous Wesfarmers results and reports please click here Opens in new window. Fortescue Twitter channel Fortescue Linkedin channel Fortescue Youtube channel. Here you'll find our annual reports and other publications of interest, including our client newsletter FMG Post. In October 2019, Fortescue paid a fully franked final dividend of 24 Australian cents per share for the financial year ended 30 June 2019. Leases are recognised on the balance sheet as a right of use asset, representing the lessee's entitlement to the benefits of the identified asset over the lease term, and a lease liability representing the lessee's obligation to make the lease payments. The last date for receipt of applications to participate in or to cease or vary participation in the Plan is by 5:00pm (AEST) on. The above consolidated statement of cash flows should be read in conjunction with the accompanying notes. The project underpins the introduction of the 60.1% iron content product, West Pilbara Fines. Fortescue has no financial maintenance covenants across all instruments. Protecting biodiversity and water resources, Creating employment and business opportunities for Aboriginal people. Typically, the duration of these contracts is for periods of between 2 and 5 years, some of which include extension options. Follow the links to find the logins you’re looking for: 1. Not only has the company fully recovered from its March COVID-induced slump, but it currently trades nearly 70 per cent higher than it did at the start of 2020. Download Operating and Financial Review (PDF), Download Corporate Governance section (PDF), Download Diversity & Inclusion section (PDF). Download PDF of the 16-Oct-2020. 2019. Financial Reports; ESG/Sustainability; News and Resources. Underlying EBITDA, defined as earnings before interest, tax, depreciation and amortisation, exploration, development and other expenses, is a key measure of the Company's financial performance. Mining Journal Intelligence Global Leadership Report 2020. Completion of AHS rollout at the Christmas Creek mine site which, coupled with AHS at Solomon, has lowered overall mining operating costs and reduced diesel consumption, Increased reliability at all OPFs producing record. The Western Hub Resources include significant amounts of high iron content bedded iron ore, adding dry, low cost tonnes to Fortescue's product suite. A delivery term that indicates that the shipment price includes the cost of goods, freight costs and marine costs associated with a particular delivery. Aboriginal employment and business opportunities, Fortescue is proud to be one of Australia's largest employers of Aboriginal people. Fortescue's price realisation in HY20 increased by 73 per cent over the prior year as compared to an increase of 38 per cent in the Platts 62% index price over the same period. There are reasonable grounds to believe that the Company will be able to pay its debts as and when they become due and payable. The EIA procedure has been divided into the Kymenlaakso and western coast procedures, which will be carried out on different schedules. Based on our review, which is not an audit, we have not become aware of any matter that makes us believe that the half year financial report of Fortescue Metals Group Ltd is not in accordance with the Corporations Act 2001 including: As lead auditor for the review of Fortescue Metals Group Ltd for the half-year ended 31 December 2019, I declare that to the best of my knowledge and belief, there have been: This declaration is in respect of Fortescue Metals Group Ltd and the entities it controlled during the period. Special dividends declared and paid in FY19 were "special" in terms of timing, noting that Fortescue's total FY19 dividends declared of A$1.14 per share represented a dividend payout ratio of 78 per cent of full year net profit after tax. The 2020 Annual General Meeting of Fortescue Metals Group (Fortescue) was held in Perth today, with shareholders having the option to attend the hybrid meeting in person or virtually. FORTESCUE Metals Group has reported a record first quarter of iron ore shipments, lower costs and higher realised pricing. Fortescue accepts the scientific consensus as assessed by the Intergovernmental Panel on Climate Change and is committed to contributing to global efforts to address climate change. Independent and centralised unit responsible for identifying, assessing and monitoring risks across Macquarie. Key dates for Fortescue shareholders in 2020. Fortescue Metals Group Ltd. annual income statement. Hematite deposits are typically large, close to the surface and mined via open pits. Here's a summary of Dr Zhang's credentials excerpted from the Fortescue 2020 Annual Report, for fiscal year ended June 30, 2020. 2Australian dollar earnings per share is calculated by translating the US dollar earnings per share at the average exchange rate for the period of 0.685 USD/AUD (31 December 2018: 0.724 USD/AUD). After beneficiation, Magnetite ore can be palletised for direct use as a high-grade raw material for steel production. The Macquarie Group Foundation (the Foundation) is the philanthropic arm of Macquarie. Macquarie’s Board and Management recognise the importance of sound Environmental, Social and Governance (ESG) practices as part of their responsibility to our clients, shareholders, communities, people and the environment in which Macquarie operates. Together, these projects. Operating costs of mining, processing, rail and port on a per tonne basis, including allocation of direct administration charges and production overheads. The partial repayment comprised US$600 million of proceeds from the Senior Unsecured Notes (disclosed above) and a further US$186 million from operating cash flows. DNB Bank; DNB Boligkreditt; DNB Livsforsikring (in Norwegian only) Annual reports 2019. Fortescue's continued focus on productivity and efficiency is demonstrated through the following projects which delivered ongoing cost benefits throughout the half year period, including: The impact of the above internal factors has been further enhanced by a more favourable AUD/USD exchange rate and the reallocation of operating lease costs out of C1 and into depreciation and interest expense on adoption of AASB 16 Leases. These include Pay As You Go (PAYG) withholding tax from salary and wages paid to employees. Fortescue Metals Group Ltd. published this content on 19 February 2020 and is solely responsible for the information contained therein. The SDGs are a call for global action through national governments to end poverty, protect the planet and ensure that all people are able to enjoy peace and prosperity. Financial position and capital management, Financial position and capital management (continued). Mining Journal Intelligence Global Leadership Report 2020 . During the half year ended 31 December 2019, Fortescue delivered a record net profit of. Fortescue's longstanding relationships with customers in China have grown from the first commercial shipment of iron ore in 2008, to now being a core supplier of seaborne iron ore to China as well as other markets including Japan, South Korea and India. Refer to the table on page 16 for the reconciliation of Underlying EBITDA to the financial metrics reported in the financial statements under Australian Accounting Standards. The Investor Relations website contains information about Marriott International's business for stockholders, potential investors, and financial analysts. Macquarie (MGL and its subsidiaries, the Consolidated Entity) is a global diversified financial group with offices in 31 markets. Towage operations in the Port of Port Hedland commenced on 5 September 2019 with a total of 242 vessel movements conducted during the half. Fortescue owns and operates a fully integrated infrastructure and supply chain spanning two mine hubs in the Pilbara, with a third under development, the five berth Herb Elliott Port in Port Hedland, the Judith Street Harbour towage infrastructure and the fastest, heavy haul railway in the world. lease payments. Aug 25, 2020 – 12.01am. 2020 Proxy Statement. To the members of Fortescue Metals Group Ltd, We have reviewed the accompanying half year financial report of. Discover the most prominent challenges for mining company C-suite executives both... Read More. The Operating Groups are split between annuity‑style businesses and markets‑facing businesses. At the same time it enhances Fortescue's overall security of supply, leveraging its investment in existing energy infrastructure including the Fortescue River Gas Pipeline, generation capacity at the Solomon Power Station and supporting the incorporation of. Mining, processing, rail and shipping combined to achieve record shipments of 88.6mt in the first half of FY20. Since being founded in 2003, Fortescue has discovered and developed major iron ore deposits and constructed some of the most significant mines in the world. The reconciliation of Underlying EBITDA to the financial metrics reported in the financial statements under Australian Accounting Standards is presented below. Mining Journal Intelligence World Risk Report 2020 (feat. Careers. will increase the average iron content of Fortescue's ores and provide the ability to deliver on its strategy of the majority of products at greater than 60% Fe. This result reflects strong operating performance, continued focus on productivity and efficiency, and strong realised price through execution of the Company's integrated operations and marketing strategy. Australian shares hit over 9-month high as miners scale multi-year peaks; NZ .. Australia shares rise as financials cap losses in miners, Chief Executive Officer & Executive Director. We create positive social impact by empowering people to innovate and invest for a better future. Final fully franked dividend declared for the year ended, 30 June 2019: A$0.24 per share (30 June 2018: A$0.12 per share), (a) Dividends declared and not recognised as a liability, Interim fully franked dividend for the half year ended, 31 December 2019: A$0.76 per share (HY19: A$0.19 per share) Special fully franked dividend for the half year ended, 31 December 2019: A$0.00 per share (HY19: A$0.11 per share). For media and investor relations. Fortescue is committed to continuing to improve its safety performance across the following areas: Fortescue is committed to playing its role as the world strives to meet the United Nations Sustainable Development Goals. During September 2019, Fortescue successfully completed a US$600 million offering of Senior Unsecured Notes, the proceeds of which were applied to the partial repayment of US$600 million of the outstanding US$1.4 billion 2022 Syndicated Term Loan Facility (Term Loan). Now consistently shipping around 170 million tonnes per annum (mtpa) of iron ore, Fortescue is a low cost provider of seaborne iron ore to China. This declaration is made in accordance with a resolution of Directors. Fortescue's chief operating decision maker is the Core Leadership Team (CLT) which comprises the Chief Executive Officer, Deputy Chief Executive Officer, Chief Financial Officer and Chief Operating Officer. The Company's iron ore tenements are key to maintaining mine life and sustaining product quality in Fortescue's core iron ore business. All securities and financial products or instrument transactions involve risks. This report should be read in conjunction with the Annual Report for the year ended 30 June 2019, and any public announcements made by the Company during the half year ended, 31 December 2019 and up to the date of this report in accordance with the continuous disclosure requirements of the Corporations Act 2001 and, Innovative use of technology suitable to Fortescue's deposits, 5 berths maximise outload capacity and utilisation, customers' specications 8 Fortescue Ore Carriers, Towage eet provides safe and reliable towage services. Mining Journal Project Pipeline Handbook 2020. Provides a full range of strategic legal advice and support and corporate governance services. 2019. Other revenue includes towage services provided by Fortescue, Warrie (formerly TJ) (on behalf of the Yindjibarndi People) v State of Western Australia), The interim financial statements and notes of Fortescue Metals Group Ltd set out on pages 21 to 32 are in accordance with the, Giving a true and fair view of the consolidated entity's financial position as at 31 December 2019 and of its performance for the half year ended on that date; and, Complying with Accounting Standard AASB 134. Total ordinary dividends for the year were US$2.02 per share. 16-Oct-2020. On 19 February 2020, the Directors declared an interim fully franked dividend of 76 Australian cents per ordinary share payable in April 2020. The senior unsecured notes had a fair value of US$2,725 million at 31 December 2019 (30 June 2019: US$2,071 million). … 30 per cent of Fortescue's stationary energy requirements from solar. Notes to the consolidated financial statements. All dollar figures are in US currency unless otherwise stated. For the half year ended 31 December 2019, Fortescue generated earnings of 79.7 US cents per share (HY19: 20.8 US cents per share). Peter Ker Resources reporter. Neu-Ulm, 24.10.2019 | Das neue EFQM Modell 2020 –Dr. the half year was focussed on iron ore in the Western Hub and Eastern Hamersley regions in the Pilbara, and early stage target generation for copper-gold in the North Paterson and Rudall region in Western Australia. For internal reporting and risk management purposes, Macquarie is divided into the following information pertains to financial... Been a multi-billion dollar export deal with China view FMG.AU financial statements that accompany this announcement investment grade with! Price and the iron Bridge Magnetite Project: US $ 2,453 million and earnings per share payable. 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