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ASX ANNOUNCEMENT - Fortescue Metals Group advises that comments in relation to the pursuit of market share at the expense of shareholder value and Australian government revenues, were made against the background of the provisions of Section 51(2)(g) of the Australian Competition and Consumer Act which deals with goods exclusively exported.
The association of private power companies in Western Australia has welcomed electricity market reforms announced today by Energy Minister Mike Nahan as a step in the right direction towards creating increased competition in the electricity market and reducing the cost of power to taxpayers.
Western Australia’s economy continues to steer through the transition from a construction phase to production phase in the resources sector but, according to Deloitte Access Economics latest WA Business Outlook, the downside of the transition is beginning to show in the domestic economy.