Fortescue charged by WorkSafe, NAB invests in banking hub and BHP reports worker death

Fortescue Metals Group (ASX: FMG) has been charged by WorkSafe for failing to supply documents relating to 34 cases of alleged sexual harassment at three Western Australian mine sites.

The incidents allegedly happened at FMG’s Pilbara iron ore mining operations – Christmas Creek, Solomon and Cloudbreak. The number of victims and offenders is unclear.

FMG is yet to enter an official plea to the charges, which carry a potential cumulative penalty of up to $1.87 million.

However, the company also responded by saying that it has always complied with its obligations to report cases of sexual harassment and will continue to take meaningful action to eliminate it.

New legislation introduced last year compels businesses to provide documents related to workplace sexual harassment under the Respect@Work recommendations.

Northern Star Resources grants contracts to SRG Global

Northern Star Resources (ASX: NST) executed two agreements this week with SRG Global (ASX: SRG) worth $220 million.

The first contract issued to SRG is for five years and covers drill and blast services, explosives management, and grade control drilling at the Bronzewing gold operations in WA.

The second contract is a two-year extension to a five-year contract with SRG Global for drilling services at the Thunderbox and Carosue Dam gold operations in WA.

NAB invests $10m in Toowoomba

National Australia Bank (ASX: NAB) will commence construction of the new Banking Hub in Toowoomba in mid-February for a total investment of $10 million.

NAB’s investment in Toowoomba is its largest nationally in its Branch and Business Banking Centre network. The hub will consist of 1,200 square metres to bring over 80 personal and business bankers from NAB under one roof.

The bank will also make strides to employ Australia’s indigenous people in its construction process. The finished design will also include a laneway dedicated to indigenous artwork.

NAB said that the hub would support its customers’ banking needs as Toowoomba continues to expand. The hub is expected to be completed within twelve months.

BHP announces worker death

A BHP Group (ASX: BHP) worker was struck and killed by a train while working at the company’s rail yard this week near Boodarie in the Pilbara.

The worker, Jody Byrne, worked in the company’s Queensland coal and WA iron ore teams.

Following the fatality, BHP’s Western Australia Iron Ore (WAIO) processing hubs have been suspended for 24 hours for a safety stop. The company has since activated its Site Incident Management Team and the police have attended the scene.

BHP said it is undertaking a full investigation and working with relevant authorities.

WA’s mine safety regulator, as well as the Office of National Rail Safety and WorkSafe were informed of the fatality. Police are also now preparing a report for the coroner.

Macquarie posts Q3 2023 results

Macquarie Group (ASX: MQG) revealed an update for the December quarter 2022 (Q3 2023), with varied market conditions impacting its diverse businesses.

The annuity-style businesses had a lower combined net profit contribution in Q3 2023 compared to the prior period, due to more significant green energy sector asset realisations for the previous period.

While its markets-facing businesses had a higher combined net profit contribution in Q3 2023 compared to the prior period, mainly due to solid results in commodities, including gas and power.

Macquarie Asset Management had $797.8 billion in assets under management (AUM) at the end of December 2022, with private markets AUM increasing by 3%.

Banking and Financial Services had total deposits of $125.7 billion, up 8% from September 2022. Commodities and Global Markets had strong results in global gas, power, and oil products.