I was in a senior management position in Perth in the 1970s when our chief customers were iron ore mines and their contractors so I do know a modest amount about WA's iron ore mining and ownershipof the mines and, more recently, US, Japan & China's investment in their development and infrastructure.
(Not alone do I know a modest bit about WA's iron ore mining industry in the 21stC I also know a slight amount about it from the 1960s )
For example BHP, RIO & FMG ownership of these mega miners is mostly held overseas.
For example:
Aussie ownership:
BHP : approx 8%..
Rip: approx 12%
FMG: approx 5%
(Please refer to the chart in the link posted below where the Yellow Bar is Aussie Ownership)
I'm aware that Twiggy is listed on FMG's share holders register of holding about 36% of FMG
but obviously like Clive Palmers share on Minerology, these holdings may be held overseas.
I wrote to News Ltd and akked it to review the article below for accuracy; particuluarly FMG's
very low Aussie ownership and amend if neccessary. As of yet there has been no amendment
so I assume that the original report is accurate.
https://www.news.com.au/finance/bus...s/news-story/5e0361d3e4433be0c4c1c40c8254cac1
If you contest the report, just drop a line to News lts with the supporting data and I'm sure that they will set the record straight.
I also note that Twiggy has not contested this and we all know that Twiggy is far from shy in matters relating to FMG and as evidenced recently
in his China Trade Rep & our Trade Minister debacle in Melbourne.
Kind regards
MM
PS: Just because Twiggy's personal company & his Charity lists FMG shares on their balance sheets does not neccessarily imply that these shares are held onshore.
