FMG chief open to new State agree­ments

Pilbara News - - News - Tom Zaun­mayr

■ Fortes­cue Met­als Group chief ex­ec­u­tive Nev Power has en­ter­tained the idea of re­think­ing State agree­ments so long as they don’t dam­age in­vestor con­fi­dence.

Mr Power said the “old” State agree­ments did not re­flect mod­ern stan­dards de­sired in the min­ing and resources industry.

“I think there is a very good rea­son to open those up and look at them again,” he said.

“At the same time though I think we need to be very care­ful that it is done in a very pro­duc­tive way so there isn’t an is­sue cre­ated around sov­er­eign risk or lack of cer­tainty in our industry.

“Our industry re­quires very large in­vest­ments of cap­i­tal and we want to make sure there is cer­tainty for that in­vest­ment.”

Mr Power would not di­rectly an­swer whether or not he would be happy to see min­ing com­pa­nies pay more.

“We have a wide va­ri­ety of taxes, charges and fees levied on us as a com­pany and we are happy to pay those so pro­vided they are fair, just and bal­anced to what ev­ery­one else is pay­ing in the com­mu­nity I think that is ap­pro­pri­ate,” he said.

Lo­cal gov­ern­ments and politi­cians in the Pil­bara were an­gered ear­lier this year when the State Gov­ern­ment forced them to lower the rates they were in­tend­ing to charge for TWA camps in their 2015-16 bud­gets.

Pic­ture: Tom Zaun­mayr

Fortes­cue Met­als Group chief ex­ec­u­tive Nev Power.

Newspapers in English

Newspapers from Australia

© PressReader. All rights reserved.