Company
Fortescue Metals Group Limited
Headquarters: East Perth, WA, Australia
Founded: 2003
Employees: 10,232
CEO: Ms. Elizabeth Anne Gaines CA
Market Cap
A$86.80 Billion
AUD as of Jan. 1, 2024
US$59.12 Billion
Fortescue Metals Group Limited Categories
Australia Basic Materials Other Industrial Metals & MiningAustralia Basic Materials Australia Other Industrial Metals & Mining
Company Description
Fortescue Metals Group Ltd, also referred to as Fortescue or FMG, is one of the largest producers of iron ore in the world. Fortescue Metals Group operates iron ore mines throughout Australia and ore transports including trains and ore carrying ships. It is now engaged in the exploration for diversification in gold, copper, and lithium.
Top Competitors by Market Capitalization
Industry: Other Industrial Metals & Mining
| Company | Market Cap (USD) |
|---|---|
| BHP | $169.91 B |
| Rio Tinto | $120.67 B |
| Glencore plc | $73.42 B |
| Vale SA | $67.02 B |
| Saudi Arabian Mining Company | $47.11 B |
Sector:
| Company | Market Cap (USD) |
|---|---|
| Linde | $198.22 B |
| BHP | $169.91 B |
| Rio Tinto | $120.67 B |
| Air Liquide SA | $101.75 B |
| Shin-Etsu Chemical Co Ltd | $82.56 B |
Detailed Description
Fortescue Metals Group Limited engages in the exploration, development, production, processing, and sale of iron ore in Australia, China, and internationally. It also explores for copper and gold deposits. The company owns and operates the Chichester Hub that includes the Cloudbreak and Christmas Creek mines located in the Chichester ranges; and the Solomon Hub comprising the Firetail, Kings Valley, and Queens Valley mines located in the Hamersley ranges of Pilbara, Western Australia. It is also developing the Eliwana mine situated in the Pilbara region of Western Australia. In addition, the company holds a portfolio of properties situated in Ecuador and Argentina. Further, it provides port towage services. Fortescue Metals Group Limited was incorporated in 1983 and is headquartered in East Perth, Australia.
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Stocks & Indices
Fortescue Metals Group Limited has the following listings and related stock indices.
Stock: ASX: FMG wb_incandescent
Stock: FSX: FVJ wb_incandescent
Stock: OTC: FSUMF wb_incandescent
Product & Services
Iron ore, Steel, Gold, Copper, Lithium
Key People
Elizabeth Gaines (CEO) Andrew Forrest (Chairman) (majority shareholder)
Financials
Revenue: A$17.62 billion (2020)
Operating income: A$11.50 billion (2020)
Net income: A$6.50 billion (2020)
Total assets: A$48.05 billion (2020)
Total equity: A$26.41 billion (2020)