Fortescue Metals Group Limited

Description

Fortescue Metals Group Ltd (ASX:FMG) is a materials company which was listed on the Australian Securities Exchange (ASX) on 19 March 1987 under the ticker code FMG. Fortescue Metals is headquartered in Western Australia and is engaged in developing infrastructure and mining assets. The main area of focus is to explore, develop, produce, process and sell iron ore. Fortescue’s operations include mining hubs which are located in Pilbara, Western Australia. The three mining hubs are Chichester, Mining and Solomon Hub. These mining hubs are connected to five berths Herb Elliot Port and the Judith Street Harbour towage in Port Hedland. The company’s iron ore value chain extends to its tog fleet and Fortescue Ore Carrier, which enhances the port’s efficiency and maximises the productivity and safety of the operations. The company is also engaged in the Iron Bridge Magnetite Project, which would enhance the company’s product range and increases the shipping and production volumes. Through green technology and energy company, Fortescue Future Industries (FFI), Fortescue is diversifying its business to become a global green energy, integrated and resource company. The company intends to transition into a green energy and resource company by achieving Scope 1 and 2 carbon neutrality emissions targets by 2030. By 2040, the company intends to achieve the Scope 3 emissions target.