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Fortescue company logo
Corporation
METALS & MINING
fmgl.com.au

Investments

2

Partners & Customers

10

About Fortescue

Fortescue operates as a global producer of iron ore. The company develops infrastructure and mining assets in West Australia. It was founded in 2003 and is based in East Perth, Western Australia.

Headquarters Location

Level 2 87 Adelaide Terrace

East Perth, Western Australia, 6004,

Australia

+61 8 6218 8888

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Latest Fortescue News

Fortescue sets iron ore record, Forrest talks up green future

Jan 27, 2023

Advertisement Andrew Forrest’s Fortescue Metals Group shipped a record amount of iron ore in the December quarter as the miner enters a year when it is expected to deliver on its green energy promises that now include manufacturing batteries. Forrest said after some 100 meetings at the recent World Economic Forum in Davos it was clear to the company that the demand for green energy was immense. Andrew Forrest said Fortescue will save $1 billion a year when its Pilbara mines switch to renewable energy. Credit:World Economic Forum “This gives us confidence that global capital markets will be aligned to progress five Fortescue Future Industries green energy projects to final investment decision in calendar 2023 allowing first production in 2024,” he said. Forrest’s pivot from iron ore to clean energy was based on the production of hydrogen from renewable energy, but he has now added batteries “as a preeminent focus.” UK-based Williams Advanced Engineering which Fortescue bought in 2022 will commission its manufacturing facility in April. Loading “To accelerate and globalise this transition, Mark Hutchinson has been appointed chairman, tasked with growing WAE into a multi-billion dollar green technology, battery and vehicle control systems company,” he said. The Pilbara iron business that bankrolls FFI achieved record December quarter shipments to 49.4 million tonnes at an average revenue of $US87 a dry tonne. Forrest said there was significant interest from the market in the iron ore concentrate Iron Bridge will produce that is on track to start production in March. Advertisement “We are now nearing the 200 million tonne annualised rate in our iron ore business even before we commission Iron Bridge,” Forrest said. Iron Bridge - Fortescue’s first foray into processing magnetite ore rather than just shipping raw haematite ore - is on track to start producing by March. The final cost to be shared with Taiwanese partner Formosa Steel is expected to be close to $US3.8 billion ($5.3 billion), at the top end of the most recent guidance but much higher than the $US2.6 billion estimate when the project was sanctioned. Guidance for financial year 2023 was unchanged including iron ore shipments of 187 to 192 million tonnes. Fortescue rose 2.6 per to $23.07 a share in early trading on Friday. More to come The Market Recap newsletter is a wrap of the day’s trading. Get it each weekday afternoon . Save

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

8

5/22/2020

PIPE

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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

New?

Yes

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Co-Investors

Sources

8

10

Fortescue Partners & Customers

10 Partners and customers

Fortescue has 10 strategic partners and customers. Fortescue recently partnered with BHP Billiton, and Rio Tinto Group on November 11, 2022.

Date

Type

Business Partner

Country

News Snippet

Sources

11/14/2022

Partner

Australia, and United Kingdom

1

7/5/2022

Partner

Australia

AusIMM announces partnership with Fortescue Metals Group and Fortescue Future Industries.

AusIMM has officially launched a two-year major partnership with Fortescue Future Industries Metals Group and Fortescue Future Industries .

1

6/15/2022

Vendor

Germany

Fortescue and Liebherr establish partnership for zero emission mining equipment - Liebherr

Colmar , 15th June 2022 - The partnership between Fortescue Future Industries and Liebherr tackles the challenge of decarbonising heavy mobile equipment in the mining industry .

1

6/8/2022

Vendor

United States

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10

5/26/2022

Partner

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10

Date

11/14/2022

7/5/2022

6/15/2022

6/8/2022

5/26/2022

Type

Partner

Partner

Vendor

Vendor

Partner

Business Partner

Country

Australia, and United Kingdom

Australia

Germany

United States

News Snippet

AusIMM announces partnership with Fortescue Metals Group and Fortescue Future Industries.

AusIMM has officially launched a two-year major partnership with Fortescue Future Industries Metals Group and Fortescue Future Industries .

Fortescue and Liebherr establish partnership for zero emission mining equipment - Liebherr

Colmar , 15th June 2022 - The partnership between Fortescue Future Industries and Liebherr tackles the challenge of decarbonising heavy mobile equipment in the mining industry .

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Sources

1

1

1

10

10

Fortescue Team

6 Team Members

Fortescue has 6 team members, including current Founder, Chief Executive Officer, Fabio Massimo Grimaldi.

Name

Work History

Title

Status

Fabio Massimo Grimaldi

Founder, Chief Executive Officer

Current

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Name

Fabio Massimo Grimaldi

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Work History

Title

Founder, Chief Executive Officer

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Status

Current

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