PERTH, 2 September, 2014: Fortescue Metals Group Chief Executive Officer Nev

Power has welcomed the repeal of the Minerals Resource Rent Tax (MRRT).
"The Minerals Resource Rent Tax was a bad piece of legislation that was poorly designed, it targeted the wrong part of the economy and was introduced without consulting the industry," Mr Power said.
"The repeal of the MRRT is a sign that Australia is open for business and serious about encouraging mining development and investment. Fortescue is already a significant contributor to the economy, through the employment it creates, the taxes and royalties it pays, the dividends it returns to shareholders and its investment in people and innovation, repealing the MRRT will encourage more of these positive contributions."

Media Contacts:

Byron Vale
Mobile: 0415 566 976
Email: bvale@fmgl.com.au

Fortescue Metals Group Limited ABN 57 002 594 872 ACN 002 594 872 ADDRESS Level 2, 87 Adelaide Terrace, East Perth, Western Australia 6004 TEL +61 8 6218 8888 FAX +61 8 6218 8880 EMAIL fmgl@fmgl.com.au
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