Graeme Rowley

The spectacular rise in Fortescue Metals Group’s share price since chief executive Andrew Forrest took the reins has made the iron ore developer the top performing Western Australian stock over the past five years.

EXPORTERS should remain relatively shielded from any dramatic downturns in the global economy, with the demand from China expected to remain robust.

A day after Treasurer Wayne Swan declared BHP Billiton and Rio Tinto's Pilbara rail lines open to third parties, Fortescue Metals Group Ltd says it has written to the mining giants seeking a rail co-operation deal.

Fortescue Metals Group expects to hold a steady production rate of 55 million tonnes per annum over the course of 2009, setting aside earlier plans to hit that rate by the end of the March next year.

Fortescue Metals Group has reached its targeted 15 million tonne shipment for 2008 while it was 1 per cent shy of its mining goal at its Cloudbreak mine in the Pilbara.

The federal government has approved Chinese company Hunan Valin Iron and Steel Group to take up to a 17.55 per cent stake in Fortescue Metals Group.

Fortescue Metals Group executive director Graeme Rowley has pocketed more than $2.3 million after selling a sizeable chunk of shares on the Australian market.

One of Fortescue Metals Group's founding directors and key spokesmen, Graeme Rowley, will take a step back from his executive role at the miner and pursue projects including a Western Australian film.

AN influx of new feature film and television productions in Western Australia has prompted one local producer to claim that Perth could become the next Hollywood.

The ranks of rich directors have swelled, as has the paper wealth of those already on the list.

Most annual shareholder meetings are fairly pointless, but two held last week showed they can still deliver value.

Andrew Forrest has reiterated his support for Fortescue Metals Group diversifying its operations into other commodities, but said there were no immediate plans to pursue nickel, or oil and gas over its core iron ore business.

Fortescue Metals Group is home to two of Western Australia’s wealthiest company directors, or so it was believed until a surprise disclosure last month.

SPECIAL REPORT: Wealthy Western Australians have made some eye-popping philanthropic pledges over the years but none as large as one of Gina Rinehart’s recent moves.