Billionaire Andrew Forrest and his wife,Nicola,have effectively created their own Future Fund.
The country’s richest man and his wife have given 220 million shares,or about a fifth of their stake in the iron ore miner,to their philanthropic foundation Minderoo.
The iron-ore magnate acquired a company last year to produce batteries that can be scaled up for use in the huge trucks that operate on his mines in Western Australia.
Tech billionaire Mike Cannon-Brookes has prevailed over mining tycoon Andrew “Twiggy” Forrest in a months-long contest to acquire the collapsed Sun Cable mega-project.
Hydrogen developers have thrown support behind Labor’s $2 billion scheme to kickstart the fledgling industry and boost their ambitions to turn water into fuel.
High-net-worth investors favour the shares of the big Australian listed companies,while shunning trendy investment themes.
The first magnetite from Fortescue Metals Group’s $5.9 billion Iron Bridge project has hit Port Hedland after 20 years of planning,testing,cost overruns and a management shake-up.
Details of the miner’s further diversification into green hydrogen remain elusive,even as its $5.9 billion Iron Bridge magnetite project finally gets ready to deliver the goods.
The Australian sharemarket extended gains on Friday as mining companies and evaporating fears on Wall Street bolstered the local market.
The Australian sharemarket rebounded from early losses on the back of soft inflation numbers.
The mining billionaire also said he would be happy to advocate for detained Australians Yang Hengjun and Cheng Lei when he meets China’s Premier on Wednesday.