Fortescue set for title battle
FORTESCUE Metals is likely to appeal a Federal Court decision recognising a native title claim over land in Western Australia where it mines iron ore.
Chief executive Nev Power has told ABC Radio that Fortescue is considering its options and is likely to appeal.
On Thursday, Justice Steven Rares recognised that the Yindjibarndi people have exclusive rights over Pilbara land on which Fortescue operates the Solomon iron ore mine.
Senior Yindjibarndi lawman Michael Woodley has vowed to launch a compensation claim against Fortescue.
Fortescue Metals shares were hit on Thursday in the wake of the court decision and were lower again yesterday as the iron ore price suffered a drop.