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FORTESCUE METALS GROUP LIMITED

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Delayed Australian Stock Exchange  -  02:10 2022-08-18 am EDT
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Fortescue Metals : supports Aboriginal owned businesses through new supplier panel

06/29/2022 | 10:32pm EDT
Fortescue supports Aboriginal owned businesses through new supplier panel

Jun 30, 2022

Following a competitive tender process, Aboriginal owned businesses Maramara, Orebody Resources and Barrooghumba WPH JV have been jointly awarded a three-year contract as providers of support mobile equipment dry-hire to Fortescue.
As part of the contract, the three businesses will form a supplier panel allowing Fortescue to efficiently hire equipment including graders, water carts and excavators across the Company's Pilbara mining hubs.
Fortescue Director Communities, Environment and Government Warren Fish said, "Fortescue is committed to supporting sustainable long-term opportunities for Aboriginal businesses. Procurement is one of the most powerful levers for social and economic change, and from experience we know that a strong Aboriginal business sector is best placed to create employment and development opportunities for their communities.
"I am pleased to announce this contract with Palyku owned Maramara and Orebody Resources and Nyiyaparli owned Barrooghumba, continuing to foster Fortescue's relationships with these outstanding Pilbara based businesses."
Maramara Managing Director Garry Jaffrey said, "We are over the moon to have been awarded this contract. As an Aboriginal business, this is a huge opportunity and reflects the hard work of the entire team who have helped deliver this outcome.
"One of the key objectives of our business is to support Aboriginal people coming into the workplace. Being awarded this contract will help us grow our business, build capacity and create opportunities for more Aboriginal people - thank you to Fortescue for continuing to believe in us."

Disclaimer

Fortescue Metals Group Ltd. published this content on 30 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 June 2022 02:31:46 UTC.


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Financials (USD)
Sales 2022 17 389 M - -
Net income 2022 6 268 M - -
Net Debt 2022 1 130 M - -
P/E ratio 2022 6,54x
Yield 2022 11,4%
Capitalization 40 795 M 40 795 M -
EV / Sales 2022 2,41x
EV / Sales 2023 2,63x
Nbr of Employees -
Free-Float 50,9%
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Number of Analysts 19
Last Close Price 13,26 $
Average target price 11,68 $
Spread / Average Target -11,9%
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Managers and Directors
Elizabeth Anne Gaines Chief Executive Officer & Executive Director
Ian Wells Group Manager-Treasury & Business Planning
John Andrew Henry Forrest Chairman
Fernando Pereira Director-Operations & Pilbara Operations
Mark Bradley Barnaba Deputy Chairman
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