Fortescue Metals Group (ASX:FMG)

Elizabeth Gaines
Market Cap (AUD): 63.67B
Sector: Materials
Last Trade (AUD): 19.92 -0.73 (-3.68%)
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1. About

Fortescue Metals Group (ASX:FMG) is a global leader in the iron ore industry, recognised for its culture, innovation and industry-leading development of world class infrastructure and mining assets in the Pilbara, Western Australia. 

Since it was founded in 2003, Fortescue has discovered and developed major iron ore deposits and constructed some of the most significant mines in the world. The Fortescue team is focussed on achieving the Company’s vision to be the safest, lowest cost, most profitable mining Company.

Now consistently producing 170 million tonnes of iron ore per annum, Fortescue has grown to be one of the largest, global iron ore producers and has been recognised as the lowest cost seaborne provider of iron ore into China based on Metalytics Resources Sector Economics analysis.

Fortescue’s head office is located in Perth, Western Australia. Fortescue owns and operates integrated operations spanning three mine sites in the Pilbara, the fastest, heavy haul railway in the world and the five berth Herb Elliott Port in Port Hedland.

A natural extension of Fortescue’s supply chain, the fleet of eight Fortescue Ore Carriers were designed to complement the industry best practice efficiency of Fortescue’s Port.

The world leading Eliwana mine and rail project will build on Fortescue’s development and construction capability, utilising the latest technology, autonomous trucks and design efficiency.

Innovation in exploration, process and design is a key component of Fortescue’s strategy to efficiently and effectively deliver products from mine to market.

Fortescue’s longstanding relationships with its customers have grown from the first commercial shipment of iron ore in 2008 to the Company becoming a major iron ore supplier to China, and expanding into Japan, South Korea and India.

As the Company’s primary customers, steel mills in China trust Fortescue to deliver safe, reliable and consistent quality products. The Company is committed to the strategic goals of ensuring balance sheet strength and flexibility, investing in the core long-term sustainability of the business while pursuing low cost growth options and delivering returns to shareholders. 

Fortescue is focussed on ensuring communities benefit from the growth and development of its business. As a proud West Australian Company, Fortescue seeks to set high standards, create positive social change and safeguard the environment and heritage of the regions in which it operates in.

2. Business model

3. Strategy

4. Markets

5. Competition

6. History

7. Team

8. Financials

9. Risk