With 67% Fe low-impurity premium product the ultimate output, the project holds great promise. Fortescue Metals Group Ltd (Fortescue) (ASX: FMG) advises that Chairman, Dr Andrew Forrest AO and Chief Executive Officer, Elizabeth Gaines are addressing shareholders at the Annual General Meeting (AGM) at 10am AWST today. After a strong showing in 2019, Fortescue Metals Group has now set its sights on a bumper year driven by international expansion and technology innovation, Fortescue Metals Group plans a $2.4bn spending spree in FY2020 (Credit: Fortescue Metals Group). In Ecuador, the company has recently completed its first 3,500m drilling programme in the search for copper. When autocomplete results are available use up and down arrows to review and enter to select. Fortescue Metals Group and Origin Energy Ltd announced on Tuesday separate plans to assess building ammonia export plants in the Australian island state of Tasmania, as … Read detailed company information including dividend distribution, dividend amount and payment history. The Iron Bridge Magnetite Project, which is also in the Pilbara region, is a $2.6bn investment, with first ore scheduled for delivery in mid-2022. Another innovation in operation at Cloudbreak is a 5km relocatable conveyor that includes two semi-mobile primary crushing stations and feeds directly into the Cloudbreak ore-processing facility. Fortescue Metals Group says it has completed its Chichester Hub autonomous haulage project, with 183 trucks now operating in AHS mode across its Solomon and Chichester Hubs, in Western Australia. For the year ahead, $700m has been earmarked for further development. The company not only uses autonomous drills, but it has been driving hard to become the first iron ore operation in the world to have a fully-autonomous haulage fleet. The 'return' refers to a company's earnings over the last year. The full issue can be viewed here. Fortescue Metals Group Limited (Fortescue) is engaged in the exploration, development, production, processing and sale of iron ore. Fortescue owns and operates a fully integrated infrastructure and supply chain including five berth Herb Elliott Port in Port Hedland, the Judith Street Harbour towage infrastructure and the heavy haul railway covering 620 kilometers (km) of track. Among the promising regions currently under the microscope are Ecuador, Colombia and Argentina. Operational development will account for $200m and the Queen’s Valley development for $150m. Its autonomous haulage technology (AHS) took another step forward in mid-2019 with the first Cat 789D model trucks fitted with AHS now in operation at Cloudbreak, which lies in the Chichester Hub in Pilbara. Events | Jobs | Media | Data Usage & Cookies | Contact Us. Through this investment, Fortescue has opened up access to a large greenfield landholding of approximately 2,930 square kilometres (km2) in the province of San Juan, which holds promise for reserves of copper-gold. At the moment, it is looking closely at exploration and development opportunities throughout South America. Learn about Fortescue Metals Group culture, salaries, benefits, work-life balance, management, job security, and more. Fortescue Chief Executive Officer Elizabeth Gaines, and Deputy Chairman Mark Barnaba celebrated the official event on site at Eliwana with Hon. Disclaimer: Business & Human Rights Resource Centre and its collaborative partners take no position … Under the agreement, the two parties will collaborate to build and operate a combined hydrogen production and refuelling facility at ATCO’s … A look at its mining techniques and infrastructure quickly shows the value of this investment. The first field work at the site began in January 2019, in a project area around 180km from San Juan. Australia. The AGM will be webcast on Fortescue's website at www.fmgl.com.au and a copy of the presentations are attached. Fortescue Metals Group (FMG) is adopting integrated planning systems and data analytics to uplift its finance function. This is a visual representation of the price action in the market, over a certain period of time. View today’s FMG share price, options, bonds, hybrids and warrants. 0.03 pts (0.16 %) High: 18.7. Find out more at Intelligent Investor Fortescue Metals Group is aiming to set itself apart from other major Australian iron ore producers with its integrated product strategy, targeting higher grade material. It also explores for copper and gold deposits. Fortescue Metals Group Limited engages in the exploration, development, production, processing, and sale of iron ore in Australia, China, and internationally. MELBOURNE, Nov 12 (Reuters) - Australia's Fortescue Metals Group pressured a state government body to fast track its application to damage two ancient rock shelters as part of an iron ore mine expansion in Western Australia, documents showed on Thursday. It operates through the China and Other geographical segments. For Western Australia's Fortescue Metals Group (Fortescue) working safely and efficiently, in increasingly demanding environments and terrains, is an ongoing challenge. Fortescue Metals Group chief operating officer Greg Lilleyman said: “Our operations are more connected than ever before and by using data from our autonomous haulage fleet, we can paint an accurate picture of our operations and focus on the optimal opportunities for improvement, such as haul road design and maintenance scheduling. After a successful 2019, World Mining Frontiers writer Jim Banks looks at how the company is exploring in both new and existing territories. View announcements, advanced pricing charts, trading status, fundamentals, dividend information, peer … MMT thus makes the transportation of low-emission hydrogen economically viable. Most notable among these, she emphasised, was the company’s safety record, “which resulted in our lowest annual total recordable injury frequency rate (TRIFR) of 2.8, with the entire Fortescue team delivering excellent results across all of our operations”. Fortescue and ATCO power on with hydrogen agreement. The company holds the largest tenement portfolio in the Pilbara region of Western Australia, which has been the bedrock of its growth, and is vital to maintaining mine life and sustaining product quality in its core iron ore business. With a price-to-earnings (or "P/E") ratio of 7.7x Fortescue Metals Group Limited may be sending very bullish signals at the moment, given that almost half of all companies in Australia have P/E ratios greater than 20x and even P/E's higher than 40x are not unusual.Although, it's not wise to just take the P/E at face value as there may be an explanation why it's so limited. Reviews from Fortescue Metals Group employees about working as a Technician at Fortescue Metals Group. Fortescue is the fourth largest iron ore producer in the world after BHP, Rio Tinto, and Vale. The Western Hub Resources hold significant amounts of high iron content bedded iron ore, on which the company’s growing revenues – which topped $10bn in 2019 – are built. At CSIRO, key developments include metal membrane technology (MMT), which enables ammonia to be used as a carrier material for hydrogen storage and transport. Andrew Forrest's Fortescue Metals Group says it had no choice but to withhold royalties to a Pilbara Indigenous group after traditional owners declined to sign land access deeds. Construction started in July 2019, and when finished it will include the implementation of infrastructure, including 143km of rail link. This leaves a sizeable chunk of the budget for exploration. Company headquarters. Apr 6, 2020. Touch device users, explore by touch or with swipe gestures. Rail links from the region’s major hubs run to the port, and that link is currently the fastest heavy-haul railway in the world. The development of these holdings will be an essential part of its $2.4bn capital expenditure in the 2020 financial year. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Fortescue signed 12 memoranda of understanding (MoUs) valued between $3bn and $4bn. Fortescue Metals Group Ltd. explores for and produces iron ore. Faces of Fortescue - Meet Dean Habets. Unlock full charts - open a free demo account . Fortescue Metals Group latest news Business & Human Rights Resource Centre. SELL. “Our integrated operations and marketing strategy, record processing, together with our continued disciplined approach to cost management delivered shipments of 167.7Mt and a full year underlying EBITDA margin of $39 per dry metric tonne,” she added. Beyond its status as the largest tenement holder in Pilbara, the company also has a 3,000 km2 tenure in New South Wales and a 15,000km2 tenure in South Australia. The company has holdings of more than 87,000 km in the Pilbara region of Western Australia, making it the largest tenement holder in the state, larger than both BHP Billiton and Rio Tinto. During the COVID-19 pandemic, we have had to make difficult decisions including a temporary change to our roster to contain the spread of the virus. With $140m available for exploring new opportunities, up from the $105m spent in the 2019 financial year, there is plenty in the war chest. Fortescue Metals Group Ltd. Fortescue Metals Group Ltd. engages in the development of iron ore deposits. This huge outlay will be dispersed in many ways. Fortescue Metals Group Ltd. has called for partners to build a demonstration plant in Australia for the hydrogen technology research it is funding, with an eye to boosting its own operations' sustainability and for export markets which are hungry for it. Are the days of combined cycle power plants numbered. It is expected to deliver the first ore on train in December 2020. Overall, the 2019 financial period saw profits of around $3.2bn. Drilling on targets prospective for copper began at Fortescue’s Santa Ana concessions in April 2019. A sizeable amount will also go on the development of major iron ore projects already underway. As well as iron ore exploration in the Pilbara region, FMG is in the process of exploring copper-gold opportunities in Western Australia. Perhaps the most innovative of its technological developments, however, are in the area of autonomous operation. This follows from the company’s entry into Argentina, where it acquired an exploration company at the end of 2018. So far, the bulk of Fortescue’s recent exploration activity in Australia has been focused largely on early-stage target generation for copper-gold deposits in the North Paterson and Rudall region, although there has been some additional activity in New South Wales and South Australia. Solar power is an obvious avenue to explore for its Australian operations, but the company is also working to develop hydrogen as a fuel source. Fortescue Metals Group Ltd is a global leader in the iron ore industry, recognised for our culture, innovation and industry-leading development of world class infrastructure and mining assets in the Pilbara, Western Australia. The company began implementing autonomous truck technology back in 2012, when it became the first in the world to deploy Cat autonomous haulage on a commercial scale. Eliwana, which lies in the Western Hub of the company’s Pilbara operations, represents a $1.3bn capital investment and is, so far, progressing on schedule and budget. These new ventures are part of a broad spending plan put forward by Fortescue for 2020, which will see it invest further in its existing mines and infrastructure, as well as searching for new opportunities at home and abroad. The Australian firm signed MoUs for supply and procurement … Fortescue Metals Group Ltd (FMG) is an iron ore production and exploration company with assets located in the Pilbara region of Western Australia. This venture, which could see Fortescue become a key driver of the global hydrogen industry, shows that when it talks about exploration, the company is not only referring to new mining opportunities, but also new commercial avenues made possible by its track record of rapidly developing new technologies. Action in the Pilbara region, FMG is in the area of autonomous operation fortescue signed memoranda... Rail link is available at this time | Jobs | Media | data Usage & Cookies | Us. The fourth largest iron ore from its operations in Pilbara, Western Australia with 67 % Fe premium... $ 3.2bn two exploration joint ventures in South Australia, where it acquired an exploration company at the site in. 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