FMG - Fortescue
Fortescue Metals Group Limited (ASX: FMG) is a young Australian ore mining company with huge holdings in the Pilbara region of Western Australia. It has built a mine, railway and port there to facilitate its operations. It was first listed on the Australia Stock exchange in 2004.
Fortescue was formed in 2003 and began building its port, railway and mine in 2006. The mine is called Cloudbreak. Fortescue shipped its first load of iron ire to China in May 2008. It has 10 year contracts with multiple Chinese steel mills including Baosteel.
Fortescue posted profits of AUD$605 million in 2009.
Headquarters for Fortescue are in Perth, Australia.
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