18 January 2018
The Companies Officer
Australian Securities Exchange Ltd Level 40, Central Park
152-158 St Georges Terrace Perth WA 6000
Dear Madam or Sir
APPOINTMENT OF MR CAO ZHIQIANG, CHAIRMAN OF HUNAN VALIN IRON AND STEEL GROUP COMPANY LTD TO FORTESCUE'S BOARD
Fortescue Metals Group Ltd (ASX: FMG, Fortescue) advises that Mr Cao Zhiqiang, Chairman of Hunan Valin Iron and Steel Group Company Ltd (Valin) has been appointed to its Board of Directors, replacing Mr Cao Huiquan who has resigned to take up a new role.
Mr Cao Zhiqiang has been nominated by Valin pursuant to the Valin Subscription Agreement, which was announced to the ASX on 25 February, 2009.
Announcing the appointment, Fortescue's Chairman Mr Andrew Forrest AO thanked Mr Cao Huiquan for his contributions as a member of Fortescue's Board since February, 2012.
"The perspective provided by Mr Cao Huiquan on China's steel market and its unprecedented contribution to global growth and development has been invaluable, and we congratulate him on his new role as Party Secretary and Vice Chairman of Hunan Economic and Information Technology Commission."
"We welcome the appointment of Mr Cao Zhiqiang who brings extensive experience in technology and steel mill management along with a deep background in international co-operation to our Board. As Chairman of Valin, ranked in the top ten largest Chinese steel mills and one of Fortescue's most important customers, Mr Cao will continue to provide valuable perspectives and observations on market demand to further build the Board's strong understanding of the market and facilitate the close cooperation between Fortescue and the Valin Group," Mr Forrest said.
Yours sincerely
Fortescue Metals Group Ltd
Alison Terry
Company Secretary
Fortescue Metals Group Limited | PO Box 6915 |
ABN 57 002 594 872 | East Perth, Western Australia |
Level 2, 87 Adelaide Terrace | P +61 8 6218 8888 |
East Perth, Western Australia 6004 | Efmgl@fmgl.com.au |
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Background
Hunan Valin Group is the largest state owned enterprise in Hunan Province. It is among the top ten steel groups in China and was also one of the top ten most profitable steel groups in China in 2017. The Chairman of Hunan Valin is concurrently the Vice Chairman of the China Iron & Steel Association.
Valin currently holds 13.97% of Fortescue's issued capital and is the company's second largest shareholder, representing one of the most successful investments by a Chinese company in Australia.
Media contact: | Investor Relations contact: |
Michael Vaughan | Stuart Gale |
Fivemark Partners | E:investorrelations@fmgl.com.au |
E:mediarelations@fmgl.com.au | |
M: +61 422 602 720 |
Fortescue Metals Group Ltd. published this content on 18 January 2018 and is solely responsible for the information contained herein.
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