Company Profile: Fortescue Metals Group Limited is a well-known global iron ore miner and is engaged in the exploration, development, production, processing and sale of iron ore. It has four mine sites in the Pilbara region and also operates designed rail and port facilities for supply to Port Hedland. The group was founded in 2003; and with its key mines, it is producing 170 million tonnes of iron ore per annum. The group aims to be the safest, lowest cost, most profitable iron ore producer; and in this regard, Fortescue has already been considered as lowest cost supplier of seaborne iron ore into China.
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Those phrases have become increasingly common as marijuana legalization spreads.
Global spending on legal cannabis is expected to grow 230% to $32 billion in 2020 as compared to $9.5 in 2017, according to Arcview Market Research and BDS Analytics. As of June 29, 2018 the United States Marijuana Index, despite a lot of uncertainty around regulations, has over the past 1 year gained 71.49%, as compared to about 12% gain seen by the S&P 500.
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