Fortescue Ltd, formerly known as Fortescue Metals Group, is an Australian iron ore company headquartered in Perth, Western Australia. It is listed on the Australian Securities Exchange under the ticker FMG. Since its founding in 2003, Fortescue has grown to become one of the world’s largest iron ore producers, supplying global steelmakers with high-grade ore from the Pilbara region.
Vision, Mission and Values
Fortescue’s vision is to be the safest, lowest-cost, most profitable mining company. Its mission extends beyond iron ore to include pioneering the global transition to green energy through its subsidiary, Fortescue Energy. Core values emphasise safety, family, empowerment, determination, integrity, and frugality.
Mining Operations
The company operates several mining hubs in the Pilbara, including Chichester, Solomon, and Western Hubs. The Solomon Hub incorporates the Firetail and Kings Valley mines, with combined production capacity exceeding 60 million tonnes annually. Fortescue’s integrated operations are supported by its own heavy haul railway and port facilities at Port Hedland, enabling efficient exports to Asia.
Projects and Growth Pipeline
Fortescue continues to develop new iron ore deposits to sustain long-term production. Growth projects include Iron Bridge, a magnetite project jointly developed with Formosa and Baosteel, designed to produce high-grade concentrate. Through Fortescue Energy, the company is advancing large-scale green hydrogen and renewable energy projects in Australia and abroad, aligning with global decarbonisation goals.
Geographic Presence
Fortescue’s principal operations are in the Pilbara region of Western Australia, with international offices in China, Singapore, and beyond. Fortescue Energy projects are expanding its presence into new regions, including Latin America, Africa, and the Middle East.
Financial Performance
In the 2024 financial year, Fortescue reported shipments of approximately 193 million tonnes of iron ore and underlying EBITDA of about 8.8 billion US dollars. Strong cost discipline and operational efficiency supported continued profitability despite iron ore price fluctuations.
Sustainability and Corporate Social Responsibility
Fortescue has committed to achieving net-zero operational emissions by 2030, one of the earliest targets among global miners. The company invests in renewable power, battery-electric haul trucks, and hydrogen fuel cell technology. Community engagement includes partnerships with Aboriginal communities, local procurement, and investment in health and education initiatives.
Partnerships and Customers
Fortescue’s customer base consists primarily of steelmakers in China, Japan, South Korea, and other Asian markets. Strategic partnerships with Baosteel and Formosa Plastics underpin the Iron Bridge magnetite project, while Fortescue Energy collaborates globally with governments and companies to advance hydrogen supply chains.
Recent Developments
Recent developments include the commissioning of the Iron Bridge project, ongoing expansion of Fortescue Energy’s hydrogen portfolio, and new renewable energy agreements to support mining operations in the Pilbara. The company has also progressed trials of battery-electric and hydrogen-powered haul trucks.
Challenges and Opportunities
Challenges for Fortescue include iron ore market volatility, infrastructure maintenance in remote regions, and the capital intensity of new green energy projects. Opportunities lie in the diversification into hydrogen and renewables, continued demand for high-grade iron ore, and technology leadership in low-carbon mining.
Contact Information
Fortescue’s headquarters are located at Level 2, 87 Adelaide Terrace, East Perth, Western Australia. More information and investor resources are available at https://www.fmgl.com.au.
