Fmg Share Price And Company Info For Asx
In May 2013, Fortescue formally opened its 20 million tonnes each year Firetail mine at Solomon. In December 2013, the company introduced it had achieved first production from its 40mtpa Kings mine. The group has two major areas of operation positioned within the Pilbara area of Western Australia, the Chichester Hub and Solomon Hub.
Its tasks embody Chichester Hub, Solomon Hub, Port Hedland, Eliwana, Iron Bridgen and copper-gold exploration. The firm was based by John Andrew Henry Forrest in April 2003 and is headquartered in East Perth, Australia. Fortescue’s first minesite Cloudbreak presently mines 40 million tonnes of iron ore a year. The horizontal nature of the deposits at Cloudbreak called for a new mining method to these used at other mines which function on vertical deposits of ore.
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Fortescue is the fourth largest iron ore producer on the planet after BHP, Rio Tinto, and Vale. The firm has holdings of more than 87,000 km2 in the Pilbara area of Western Australia, making it the most important tenement holder within the state, larger than each BHP Billiton and Rio Tinto. Fortescue Metals Group is likely one of the world’s main producers of iron ore from its operations in Pilbara, Western Australia. FMG lodged functions for 3 mining leases within the Solomon Hub area in 2008, and commenced negotiations with the native title holders via the Yindjibarndi Aboriginal Corporation . Negotiations broke down and the YAC lodged its opposition to the grant of the three licenses to the Native Title Tribunal in 2009, initially failing to win orders preventing the grant of the licenses.
The group was based in 2003; and with its key mines, it is producing 170 million tonnes of iron ore per annum. The group aims to be the most secure, lowest value, most profitable iron ore producer; and in this regard, Fortescue has already been considered as lowest value provider of seaborne iron ore into China. Fortescue Metals Group Ltd. engages in the development of iron ore deposits.
Fortescue Metals Group Ltd (fmg:asx)
Mining began at Christmas Creek, 50-kilometre to the east of Cloudbreak, in May 2009. The first Ore Processing Facility was commissioned at Christmas Creek in April 2011 with a second OPF commissioned in 2012. Rivkin advise you not to rely solely on back tested information or statistics in order to make any trading decisions. We recommend you contact our relationship managers to arrange access to our live membership site on trial basis.
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Gold, copper and lithiumIn 2017 Fortescue introduced they have been seeking to diversify their portfolio by exploring for metals and minerals in South America and different parts of Australia. Gold, copper and lithium had been highlighted as commodities of interest. The Train Load Out facility at Firetail was commissioned in November 2012 and the first ore was transported on the Fortescue Hamersley Rail Line in December 2012. In December 2012 Fortescue opened the 129 kilometre Solomon Railway that connects Solomon to Fortescue’s mainline to its port operations.