BUSINESSMEN – AUSTRALIA

Forrest now third richest as iron ore rally delivers $5.3bn windfall

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Original article by Chris Kohler
The Australian – Page: 19 & 28 : 14-Dec-16

Bloomberg estimates that the net worth of Fortescue Metals Group founder Andrew Forrest has risen to $A7.34bn, making him the third-wealthiest individual in Australia. The 244 per cent rise in Fortescue’s share price during 2016 has boosted his wealth by $A5.34bn. The stock is currently trading at around $A6.43, compared with just $A1.45 in January. The iron ore price has risen by nearly 92 per cent in 2016, although BHP Billiton CEO Andrew Mackenzie is among those who believe that the recent rally is not sustainable.

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG, BLOOMBERG LP, BHP BILLITON LIMITED – ASX BHP, VISY INDUSTRIES AUSTRALIA PTY LTD, STANDARD AND POOR’S ASX 200 INDEX, RIO TINTO LIMITED – ASX RIO, MORGAN STANLEY AUSTRALIA LIMITED, GOLDMAN SACHS AND PARTNERS AUSTRALIA PTY LTD, BELL POTTER SECURITIES LIMITED, JP MORGAN AUSTRALIA LIMITED, MACQUARIE GROUP LIMITED – ASX MQG

Tinkler says family to quit $40m coal stake

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Original article by Paul Garvey
The Australian – Page: 6 : 18-Nov-16

Nathan Tinkler and members of his family paid about $A6.6m for a 37 per cent stake in Australian Pacific Coal in 2015. Tinkler has advised that his family intends to divest its entire holding, which is now worth some $A40m, due to APC’s long delay in finalising a deal to acquire the Dartbrook coal project in the Hunter Valley. Tinkler has also rejected speculation that APC could be a potential buyer of Anglo American’s Drayton South project if it gains environmental approval.

CORPORATES
AUSTRALIAN PACIFIC COAL LIMITED – ASX AQC, ANGLO AMERICAN PLC, BENTLEY RESOURCES PTE LTD, TREPANG SERVICES, NEW SOUTH WALES. PLANNING ASSESSMENT COMMISSION

Forrest branches into oil and gas

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Original article by Paul Garvey
The Australian – Page: 19 & 20 : 2-Nov-16

Goshawk Energy and a company owned by Fortescue Metals Group founder Andrew Forrest have applied for oil and gas exploration permits covering about 220,000 square kilometres in Western Australia’s onshore Canning Basin. Forrest has applied for the permits via Squadron Energy, which is a subsidiary of Minderoo. A spokeswoman for Minderoo says the company is not currently considering the use of fracking in the Canning Basin, but environmental groups have urged Forrest to rule out using the technology.

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG, SQUADRON ENERGY, MINDEROO PTY LTD, GOSHAWK ENERGY PTY LTD, BURU ENERGY LIMITED – ASX BRU, ENVIRONS KIMBERLEY, HANCOCK PROSPECTING PTY LTD, MINERAL RESOURCES LIMITED – ASX MIN, AUSTRALIAN LABOR PARTY, CONOCOPHILLIPS, APACHE CORPORATION, HESS CORPORATION, PETROCHINA COMPANY LIMITED, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, LAKES OIL NL – ASX LKO, EMPIRE OIL AND GAS NL – ASX EGO

Tinkler enjoys $35m windfall as coal surges

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Original article by Peter Ker
The Australian Financial Review – Page: 15 : 19-Oct-16

Businessman Nathan Tinkler and associated entities are believed to control some 37.25 per cent of the listed Australian Pacific Coal’s shares. The stock has benefited from the rally in the thermal coal price in 2016, which has seen the value of Tinkler’s July 2015 investment of $A6.6m in APC rise to more than $A41m. Tinkler stepped down as MD of the company earlier in 2016, after he was declared bankrupt.

CORPORATES
AUSTRALIAN PACIFIC COAL LIMITED – ASX AQC, ANGLO AMERICAN PLC, WHITEHAVEN COAL LIMITED – ASX WHC, BENTLEY RESOURCES PTE LTD, VG SUPERANNUATION FUND, L&Z TINKLER FAMILY SUPERANNUATION FUND, RJ TINKLER FAMILY TRUST, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION

Foul-mouth Palmer says PM, banks out to get him

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Original article by Sarah Elks
The Australian – Page: 2 : 13-Sep-16

Prominent businessman and former MP Clive Palmer has told the Federal Court that he was a victim of a "political witch-hunt". Giving evidence on 12 September 2016 in the examination of the collapse of Queensland Nickel, he accused Prime Minister Malcolm Turnbull of persuading the big banks to refuse a loan of $A25 million, which he had sought for Queensland Nickel in September 2015.

CORPORATES
QUEENSLAND NICKEL PTY LTD, FEDERAL COURT OF AUSTRALIA, PPB HOLDINGS PTY LTD, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Morgan talks up ‘unusual’ nickel find

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Original article by Tess Ingram
The Australian Financial Review – Page: 20 : 8-Sep-16

Comet Minerals, which is headed by mining industry veteran Hugh Morgan, has confirmed a significant nickel discovery in Nigeria. Morgan says the Titan discovery comprises metal balls that are comprised of nickel metal rather than lateritic or sulphite nickel. The extent of the Titan mineralisation has yet to be determined, although tests show that the nickel content of the metal balls exceeds 90 per cent. Morgan adds that Comet may consider an IPO in the future, and is in discussions regarding funding for the Titan project.

CORPORATES
COMET MINERALS, PATERSONS SECURITIES LIMITED, WESTERN MINING CORPORATION, NIGERIA. MINISTRY OF MINES AND STEEL DEVELOPMENT

Twiggy warns about supply chain slavery

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Original article by Glenda Korporaal
The Australian – Page: 21 : 1-Jun-16

Mining magnate Andrew Forrest says slavery and forced labour is a global problems, and he estimates that the number of slaves worldwide is about 46 million. The Global Slavery Index, which is funded by Forrest’s Walk Free charity, estimates that India and China have the highest number of people living in slavery. Forrest says slavery is also an issue in Australia, and he has urged other companies to follow Fortescue Metals Group’s example and take measures to ensure that their supplier are not using slave labour.

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG, GLOBAL SLAVERY INDEX, WALK FREE FOUNDATION, GALLUP INCORPORATED

Party’s all but over for Palmer

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Original article by Rosie Lewis, Sarah Elks
The Australian – Page: 6 : 24-May-16

Businessman and federal MP Clive Palmer has advised that he will not recontest the seat of Fairfax in the 2016 election. Palmer has also indicated that he will not seek a seat in the upper house. Zhenya Wang is currently the Palmer United Party’s only representative in the Senate. Palmer’s nephew, Martin Brewster, will be the party’s sole candidate for the lower house. He will contest the seat of Herbert, in which Palmer’s failed Queensland Nickel is based. The company was wound up in April.

CORPORATES
PALMER UNITED PARTY, QUEENSLAND NICKEL PTY LTD, LIBERAL PARTY OF AUSTRALIA, LIBERAL-NATIONAL PARTY OF QUEENSLAND, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION

Axe state governments, says Freelancer’s Barrie

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Original article by Misa Han
The Australian Financial Review – Page: 12 : 15-Apr-16

Freelancer CEO Matt Barrie is a radical thinker. He shared his views on a number of topics with the audience at the Knowledge Nation summit on 14 April 2016. He said Australia’s state governments should be abolished because the current federal system encourages regulatory duplication, populism and bureaucratic excesses. He also advocated adding more technology subjects to the school curriculum.

CORPORATES
FREELANCER LIMITED – ASX FLN

Lew inducted as retail legend

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Original article by Sue Mitchell
The Australian Financial Review – Page: 22 : 31-Mar-16

Premier Investments chairman Solomon Lew will join an exclusive group when he is inducted into the World Retail Congress Hall of Fame. He is the first Australian to be added to the hall of fame, whose members include the founders of international retail giants such as IKEA, Zara and Uniqlo. Tommy Hilfiger and Jo Malone will also be inducted into the hall of fame in 2016.

CORPORATES
PREMIER INVESTMENTS LIMITED – ASX PMV, WORLD RETAIL CONGRESS HALL OF FAME, IKEA INTERNATIONAL A/S, ZARA, UNIQLO COMPANY LIMITED, ARCADIA GROUP PLC, MARTHA STEWART LIVING OMNIMEDIA INCORPORATED, JUST JEANS PTY LTD, PETER ALEXANDER, SMIGGLE PTY LTD, DOTTI, PORTMANS PTY LTD, VOYAGER DISTRIBUTING COMPANY PTY LTD, PLAYCORP PTY LTD, CENTURY PLAZA INVESTMENTS PTY LTD, FCUK, NINE WEST AUSTRALIA PTY LTD, MYER HOLDINGS LIMITED – ASX MYR, COUNTRY ROAD LIMITED, DAVID JONES LIMITED, WOOLWORTHS HOLDINGS LIMITED, BUNNINGS GROUP LIMITED, SASS AND BIDE PTY LTD