News Articles for Andrew Forrest

Mining mogul Gina Rinehart retains her spot at the top of Forbes' Aussie rich list despite falling iron ore prices knocking her wealth down $US1.8 billion, to $US14.8 billion (down approximately $2.5 billion, to approximately $20.6 billion).

Andrew and Nicola Forrest have recruited a former banking executive as the inaugural chief executive of their private company Minderoo, while also disclosing its total assets more than doubled last

Andrew Forrest's agribusiness portfolio is set for a big expansion, with his Harvest Road Group planning a 60,000 head per year cattle development worth up to $50 million in the wheatbelt.

SPECIAL REPORT: In business and philanthropy, executive diversity and on the sports field, it has been quite a year for Andrew Forrest.

Andrew Forrest has made a $23 million share purchase in Fortescue Metals Group, confirming his position at the top of Business News' director shareholdings list.

SPECIAL REPORT: Asset sales and M&A action were the highlights of a busy year for WA's wealthiest.

Andrew Forrest's planned Asia Pacific-focused rugby competition has been given the green light by the World Rugby council, with further details of the new series unveiled.

ANNIVERSARY SPECIAL: From those who risked their own capital to the corporate cowboys of WA Inc and the ‘hired help' of today, WA's corporate story features many powerful personalities. This article is part of a special series to mark Business News' 25-year anniversary.

Andrew Forrest has upped his stake in Fortescue Metals Group after buying $15 million worth of shares in the iron ore miner last week.

Andrew Forrest-led Fortescue Metals Group has reported an 8.6 per cent fall in first-quarter iron ore shipments as pollution curbs in China reduced demand for its lower-grade ore.

The Channel 7 Telethon Trust achieved another fundraising record over the weekend, raising $38 million for medical research, but its success has not been shared across the charity sector, with Variety WA's Carols by Candlelight the latest of several events to be cancelled due to a lack of financial support.

Andrew Forrest's planned Asia Pacific-focused rugby competition is a step closer to reality, after the World Rugby executive committee recommended approval of the series.

Gina Rinehart's Hancock Prospecting has conditionally upped its takeover offer for Atlas Iron in a bid to win over Fortescue Metals Group, which holds a blocking stake.

The corporate regulator has objected to an underwriting deal under which Andrew Forrest's Squadron Resources could end up with as much as 61 per cent of Poseidon Nickel.

Panoramic Resources has agreed to sell the Lanfranchi nickel project for $15 million to Texas-based Black Mountain Metals, showing the American business is still on the hunt for nickel opportunities in Western Australia.

Andrew Forrest-led GenerationOne, in partnership with the federal government, has today launched an Indigenous vocation training and employment centre at the Acacia Prison, with accommodation group Ebenezer Aboriginal Corporation (EAC) appointed as the program operator.

Poseidon Nickel has announced a $74.6 million capital raising, backed by Andrew Forrest's Squadron Resources, days after US group Black Mountain Metals pulled out of a $66 million takeover proposal.

US group Black Mountain Metals has threatened to walk away from its proposed $66 million takeover bid for Poseidon Nickel after the local company disclosed it was pursuing a substantial capital raising.

Fortescue Metals Group has posted a 58 per cent drop in annual profit for the 2018 financial year compared with the previous period, but has increased its dividend payout ratio to shareholders.

Fortescue Metals Group has reduced its stake in Atlas Iron but crucially still holds more than 10 per cent, meaning Gina Rinehart's Hancock Prospecting will not be able to acquire full ownership of the takeover target.

Minderoo Foundation has today announced a $100 million research initiative designed to study and protect global marine life and its chairman Andrew Forrest has used the occasion to attack the federal government's new marine parks plan.

Andrew Forrest-chaired Fortescue Metals Group has taken a surprise 19.9 per cent stake in Atlas Iron, and says it will block the $280 million takeover proposed by diversified mining services business Mineral Resources.

Iron ore maganates Gina Rinehart and Andrew Forrest remain in the top 10 of the nation's wealthiest people, according to the 2018 AFR Rich List, which included 20 Western Australians out of 200 people listed this year.

From basketball to rugby, Nick Marvin has worked for two of the state's wealthiest businessmen on their sporting projects.

The directors of Mineral Resources and Altura Mining have enjoyed solid growth in the value of their shares over the past month, according to data on Director Shareholdings tracked by Business News.

New accommodation designed for the brightest minds within and entering the state has been built on the river bank outside the University of Western Australia thanks to a $27.5 million donation from Andrew and Nicola Forrest.

SPECIAL REPORT: Our annual analysis of the state's movers and shakers shows that sometimes the best examples of influence are demonstrated not by what change an influencer starts, but rather what they can stop.

Andrew Forrest has lost his latest court fight against a sand miner operating on his cattle station in WA's Pilbara region.

Andrew Forrest has today launched a seven-match international rugby series featuring the Western Force that will act as a precursor to the planned Indo Pacific Rugby Championship in 2019.

Altura Mining directors Allan Buckler and Paul Mantell and AusCann Holdings directors Mal Washer and Harry Karelis have been among a group of major Western Australian investors to have the value of their portfolios hit as markets have fluctuated in recent weeks.

Lotterywest has increased funding for Fringe World Festival and Sculpture by the Sea, committing $1.9 million to the month-long arts festival and $77,000 across a three-year partnership with the co

Fortescue Metals Group founder and chair Andrew Forrest has seen his stake in the miner increase $249 million in value over the past four weeks, according to data on directors' shareholdings tracked by Business News.

SPECIAL REPORT: Chris Ellison's astute commercial achievements placed him at the top of our short list of nine people contending to be person of the year.

RugbyWA is out of voluntary administration after Rugby Australia waived a legal debt of more than $1 million.

SPECIAL REPORT: The five WA people with the largest holdings in listed companies have earned around $1.5 billion in dividends in the past five years, with Andrew Forrest and Kerry Stokes leading the way. Click through for our list of 50 directors and investors with holdings worth more than $11 billion between them.

Elizabeth Gaines' selection last week as the incoming chief executive of Fortescue Metals Group has shot her to the top of a very short list of genuinely powerful women in business in Western Australia. Click through to read more and see our listing of 12 leading WA women in business.

An economy in transition offers hope for WA to emerge with a broader base.

Fortescue Metals Group has announced major changes to its leadership, with a new chief executive taking the reins and its directors taking a hands-on role to support an updated strategy that focuses on producing more higher-grade iron ore.

The state government will draft amendments to the Mining Act that validate granted tenements, in the wake of the High Court's recent ruling that kept sand mining off Andrew Forrest's family pastora

A new feature on the Business News web site that tracks the changing wealth of Western Australia's company directors shows Tony Lennon and Peter Cook are among the winners over the past month while Kerry Stokes and Andrew Forrest have gone down.