Why Fortescue Ltd’s A$150 Million Native Title Hit Matters for Pilbara Miners
Fortescue Ltd has been ordered to pay A$150 million to the Yindjibarndi Ngurra Aboriginal Corporation for cultural loss from mining at its Solomon Hub, the largest native title compensation in Australia. The Federal Court also awarded about A$100,000 for economic loss plus interest. Justice Stephen Burley found Fortescue had destroyed 124 heritage sites and blocked access to over 135 square kilometres of land. Fortescue shares rose 2.8% on Wednesday.