Fortescue Metals Group
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| Fortescue Metals Group Ltd | |
|---|---|
| Type | Public (ASX:FMG) |
| Founded | 2003 |
| Headquarters |  Perth, Australia |
| Key people | Andrew Forrest (CEO) Herb Elliott (Chairman) |
| Industry | Mining |
| Products | iron ore |
| Revenue | n/a |
| Net income | n/a |
| Employees | 279 |
| Website | http://www.fmgl.com.au |
Fortescue Metals Group or FMG is an Australian mining company set to become a major exporter of iron ore. The company has large holdings in the Pilbara region of Western Australia. The company is listed as FMG on the Australian Securities Exchange (ASX) and has shown spectacular share appreciation in the last few years.[1] Fortescue Metals is led by entrepreneur Andrew Forrest who founded Anaconda Nickel (now Minara Resources).
Contents |
[edit] Directors
- Herb Elliot AC MBE - Chairman
- Andrew Forrest - Executive Director
- Graeme Rowley AM - Executive Director
- Russell Scrimshaw - Executive Director
- Ken Ambrecht - Non-Executive Director
- Joe Steinberg - Non-Executive Director
- Geoff Brayshaw - Non-Executive Director
[edit] Management
- Alan Watling - Chief Operating Officer
- Chris Catlow - Group Chief Financial Officer
- John Blanning - Head of Mining
- Rod Campbell - Company Secretary
- Peter Thomas - Head of Finance
- Peter Huston - General Counsel
- Eamon Hannon - Head of Exploration
- Julian Tapp - Government Relations
- Dr John Clout - Resource Strategy
[edit] Core Business
Fortescue Metals Group reached a milestone in May 2008 by loading its first iron ore shipment bound for China.[2] Fortescue Metals Group is the operator of the mine in Cloud Break.
[edit] Infrastructure
The company has built a mine, a railway and a new port at Point Anderson (aka Herb Elliot port) near Port Hedland. The railway is a heavy duty standard gauge one, with 204 wagons 32,640T trains up to 2.5km long carrying 27,500T of ore at 40T axleload. (The weight of the two 4000HP engines is extra.) The railway is open access (infrastructure) which means that other mines will be able to use it for a fee.
[edit] Railway
The Fortescue Railway parallels another iron ore railway (the BHP Billiton railway) for over 100 km. Fortescue sought access to use this line, but the owner declined. A court case to gain access failed. The Fortescue has a flyover over the Mt Newman Railway, and a crossing of the BHP Billiton railway. The new trains on the Fortescue Railway are fitted with Electronically Controlled Pneumatic brakes for greater performance.
The Fortescue trains are amongst the Heaviest trains in the World.[citation needed]
[edit] Shipment
The first shipment of ore took place in May 2008, 3.5 years after construction started.
The second shipment of ore was scheduled to arrive in China on the 8th of June 2008.
[edit] See also
- Herb Elliot the distance runner, is a director and non-executive chairman of the company.
- Heaviest trains - 32,320T plus locomotives
- Longest trains - 202 Wagons plus 2 locomotives.
[edit] References
[edit] External links
- Fortescue Metals Group website
- Fortune Magazine story that includes Fortescue
- About to open - May 2008
- FallingRain Map - railways are red dots
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