Fortescue Shares Rise After Australian Federal Court Ruling on Native Title Claim

MT Newswires Live

05/13

Fortescue (ASX:FMG) shares rose nearly 2% in morning trade Wednesday, following the Australian Federal Court's determination that the company is liable to pay compensation to the Yindjibarndi Ngurra Aboriginal Corporation RNTBC in relation to the Native Title Claim initiated in 2022.

The total amount for economic loss is expected to be around AU$100,000 plus interest, and the total amount for cultural loss is AU$150 million, according to a late Tuesday Australian bourse filing.

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