Fortescue Metals Group Ltd., trading in the U.S. on the OTC Markets as FSUGY, is one of the world’s leading producers of iron ore. The company’s core activities encompass the exploration, development, mining and sale of iron ore primarily from large-scale operations in the Pilbara region of Western Australia. Fortescue operates integrated mining hubs, handling everything from ore extraction to rail haulage and port facilities, and supplies high‐quality iron ore products to steelmakers around the globe, with a strong focus on markets in China, Japan and South Korea.
Since its founding in 2003, Fortescue has rapidly scaled up production through the development of multiple mining hubs—Cloudbreak, Solomon and Eliwana among them—underpinned by proprietary rail and port infrastructure. These assets enable the company to maintain a competitive cost profile and flexible supply capabilities. Fortescue also invests in ongoing exploration across its tenements, supporting long‐term reserve replacement and potential expansions of its existing operations.
In recent years, Fortescue has diversified beyond iron ore by establishing Fortescue Future Industries (FFI), a subsidiary focused on the development of green energy solutions. FFI is advancing projects in green hydrogen, ammonia, renewable power generation and critical minerals, targeting markets in Australia, North America, Europe and Asia. This strategic pivot leverages the company’s expertise in large‐scale project delivery and positions Fortescue at the forefront of the global energy transition.
Andrew “Twiggy” Forrest, the company’s founder and Executive Chairman, has overseen Fortescue’s growth from a new entrant to a top‐tier iron ore producer. Under his leadership, the company has pursued an ambitious agenda of operational excellence and sustainability, with an emphasis on safety, community partnerships—particularly with Indigenous communities in the Pilbara—and environmental stewardship. Fortescue continues to explore opportunities to expand both its iron ore business and its green energy ventures on a global scale.
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