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Corporation
METALS & MINING
fmgl.com.au

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Investments

2

Partners & Customers

10

About Fortescue

Fortescue is an iron ore producer.

Fortescue Headquarter Location

Level 2 87 Adelaide Terrace

East Perth, Western Australia, 6004,

Australia

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Fortescue Web Traffic

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Research containing Fortescue

Get data-driven expert analysis from the CB Insights Intelligence Unit.

CB Insights Intelligence Analysts have mentioned Fortescue in 1 CB Insights research brief, most recently on Apr 23, 2021.

Latest Fortescue News

This top broker has named the Fortescue (ASX:FMG) share price as a sell

Sep 19, 2021

The Fortescue share price has been slapped with a selling rating. Tristan Harrison has been a contributor to The Motley Fool since October 2016. He has an advanced diploma from the Association of Accounting Technicians (UK) and is currently studying to be a Chartered Institute Management Accountant. Tristan's goal is to help Australians learn about the great businesses listed on the ASX that will help grow their portfolio, wealth and confidence about investments over the long term. He's a keen tennis fan and can't wait for the next Australian Open to roll around. You can view Tristan's holdings here . Latest posts by Tristan Harrison ( see all ) Image source: Getty Images The Fortescue Metals Group Limited (ASX: FMG) share price has been rated as a sell by a leading broker. UBS has decided to call the iron ore giant a sell as its expectations regarding the iron ore price have weakened. What has UBS said about the Fortescue share price? According to reporting by the Australian Financial Review ’s Tom Richardson, UBS believes that the iron ore price is going to drop below US$100 in the next few months and end up at a range of between US$70 per tonne to US$80 per tonne. That expectation is based on a slowdown of property activity in China because actions taken by authorities as well as the possibility of Evergrande defaulting, which may impact confidence. If you haven’t heard of Evergrande, it’s a very large Chinese developer that is currently in financial troubles. Mr Richardson also reported that UBS has lowered its projection for the FY22 dividend from $3.06 per share to $2.12 per share. The FY22 underlying net profit is expected to be US$6.3 billion. Profit expectations can have a big impact on the Fortescue share price. Australia’s new treaty It may also be impossible for iron ore miners and China to ignore the new strategic treaty that was announced between Australia, the US and the UK. This arrangement between the three countries is going to be called Aukus. Part of the agreement is that Australia will be getting nuclear submarines , though they won’t be armed with nuclear weapons. The ABC quoted the US President Joe Biden, who said: This is about investing in our greatest source of strength — our alliances — and updating them to better meet the threats of today and tomorrow. However, Chinese officials did not think highly of this new deal. Chinese foreign ministry spokesman Zhao Lijian said of the agreement that it: Seriously undermines regional peace and stability and intensifies the arms race. The export of highly sensitive nuclear submarine technology by the United States and Britain to Australia once again proves that they use nuclear exports as a tool of geopolitical games and adopt double standards, which is extremely irresponsible. As the major purchaser of Australian iron ore, China can have a major influence on the iron ore price. What now for the Fortescue share price? UBS has put a price target on Fortescue. The 11.5% drop of Fortescue shares on Friday ensured that the large iron ore miner has rapidly reached close to that level already. Time will tell what happens next for the iron ore price and Chinese demand. However, for Fortescue shareholders who have held for more than a couple of weeks, the final FY21 dividend is expected to be paid on 30 September 2021. That incoming dividend is a payment of $2.11 per share, which was more than twice the size of the FY20 final dividend of $1 per share. Should you invest $1,000 in Fortescue right now? Before you consider Fortescue, you'll want to hear this. Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now... and Fortescue wasn't one of them. The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more. * And right now, Scott thinks there are 5 stocks that are better buys.

Fortescue Investments

2 Investments

Fortescue has made 2 investments. Their latest investment was in Universal Hydrogen as part of their Series A on April 4, 2021.

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Fortescue Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

4/22/2021

Series A

Universal Hydrogen

$20.5M

Yes

2

5/22/2020

PIPE

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$99M

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10

Date

4/22/2021

5/22/2020

Round

Series A

PIPE

Company

Universal Hydrogen

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Amount

$20.5M

$99M

New?

Yes

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Co-Investors

Sources

2

10

Fortescue Partners & Customers

10 Partners and customers

Fortescue has 10 strategic partners and customers. Fortescue recently partnered with SRG Global on February 2, 2021.

Date

Type

Business Partner

Country

News Snippet

Sources

2/16/2021

Vendor

SRG Global

Australia

SRG Global: Wins $150M Fortescue Metals (ASX:FMG) contract

Construction engineering firm SRG Global has awarded a $ 150 million contract by Fortescue Metals Group

2

12/16/2020

Partner

POSCO

South Korea

Posco joins forces with Australia’s FMG to produce green hydrogen2020.12.16 11:05

Under the partnership , Posco will produce its premium PosMAC steel materials with iron ore imports from Fortescue Metal Group and supply them back to Fortescue Metal Group 's solar power plant under construction for production of green hydrogen .

1

10/19/2020

Partner

Lifeline WA

Australia

Fortescue Metals Group Ltd. Fortescue joins Lifeline WA for Pilbara operations mental health roadshow

Lifeline WA is proud to join forces with Fortescue Metals Group in October to share real-life stories and encourage everyone to reach out when they need help . ''

1

9/11/2020

Partner

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10

8/11/2020

Vendor

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10

Date

2/16/2021

12/16/2020

10/19/2020

9/11/2020

8/11/2020

Type

Vendor

Partner

Partner

Partner

Vendor

Business Partner

SRG Global

POSCO

Lifeline WA

Country

Australia

South Korea

Australia

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News Snippet

SRG Global: Wins $150M Fortescue Metals (ASX:FMG) contract

Construction engineering firm SRG Global has awarded a $ 150 million contract by Fortescue Metals Group

Posco joins forces with Australia’s FMG to produce green hydrogen2020.12.16 11:05

Under the partnership , Posco will produce its premium PosMAC steel materials with iron ore imports from Fortescue Metal Group and supply them back to Fortescue Metal Group 's solar power plant under construction for production of green hydrogen .

Fortescue Metals Group Ltd. Fortescue joins Lifeline WA for Pilbara operations mental health roadshow

Lifeline WA is proud to join forces with Fortescue Metals Group in October to share real-life stories and encourage everyone to reach out when they need help . ''

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Sources

2

1

1

10

10

Fortescue Team

3 Team Members

Fortescue has 3 team members, including current Founder, Chief Executive Officer, Fabio Massimo Grimaldi.

Name

Work History

Title

Status

Fabio Massimo Grimaldi

Founder, Chief Executive Officer

Current

Michael Masterman

Chief Executive Officer

Former

Neville Joseph Power

Chief Executive Officer

Former

Name

Fabio Massimo Grimaldi

Michael Masterman

Neville Joseph Power

Work History

Title

Founder, Chief Executive Officer

Chief Executive Officer

Chief Executive Officer

Status

Current

Former

Former

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