Thu, 15th May 2008

'Can Do' spirit alive and well in WA

Senator the Hon David Johnston
Shadow Minister for Resources and Energy, Tourism

After pundits wrote them off five years ago, mining company Fortescue Metals Group and its Chief Executive Andrew Forrest were today congratulated by Shadow Mining and Resources Minister David Johnston.

Senator Johnston said after everyone predicted they would fail, this week the company loaded its maiden shipment of 170,000 tonnes of iron ore to China.

“It is a timely reminder to both Western Australia and the rest of the country of the importance of mining entrepreneurs with vision to the mining and particularly the iron ore export industry,” Senator Johnston said.

“Both the Federal and State Budget produced this and last week came out with healthy surpluses, largely riding on the back of the WA mining boom.”

“We should not take the resource sector for granted however, and we need more encouragement from both levels of government in terms of exploration incentives so pioneers like FMG can remain successful in the long term,” Senator Johnston said.

“I would also like to applaud FMG’s wonderful humanitarian gesture of donating the proceeds of the first load of ore to the victims of the Chinese earthquake.” Senator Johnston said.

Senator Johnston said based on current prices this equated to a donation of more than $10 million.