A big thumbs up to @Bear77 for his highly detailed valuation on FMG. FMG put a lot of effort in to positive promotion so we rarely hear opposing information.
To provide a negative from an ESG point of view despite the company’s position on employment and contracting of First Nations people I read this book recently that gives a different perspective of how FMG deals with First Nations claims.
FMG lost the fight described in this book and have a significant damages bill yet to be determined. FMG recently entered a guilty plea in regard to damage to sites of Cultural heritage but the fine for each is $50k. Imagine destroying cultural heritage in Europe and getting a slap on the wrist.
In November of last year, a Russian tourist was fined €20,000 ($21,794) and handed a suspended prison sentence (see Tourist Fined €20,000 For Carving His Initial on Rome’s Colosseum).
https://www.blackincbooks.com.au/books/title-fight
But in its rush to develop, FMG has damaged and destroyed ancient Aboriginal heritage and brokered patently unfair agreements with the traditional owners of the land. When FMG has met resistance, it has used hard-nosed litigation in pursuit of favourable outcomes.
This is an important and timely book. Cleary manages to make sense of how this opaque and protected industry works within a legal framework that favours miners and does little to support the interests of traditional owners. It is backed by deep research but written with journalistic clarity and a compelling narrative that rightly pits two people, and the cultures they represent, against one another.’ —Andrew Dodd, Inside Story
This one is well worth a read too
https://www.blackincbooks.com.au/books/twiggy
This is a book that needed to be written. A book rich in detail with fascinating insights into the family history, the failures, flaws, and ultimate rise of John Andrew Henry Forrest. From stuttering school boy to the billionaire philanthropist Australia knows as Twiggy.’ —Sydney Morning Herald