New world force in iron ore
Fortescue is well-placed to be a new world force in iron ore. Its extraordinary emergence as an iron ore producer has been unparalleled. Formed in 2003, the company began building a port, rail and mine in the remote Pilbara region of Western Australia in February 2006. Two years later, in July 2008, the project was complete. Three 240-car trains a day carry ore along the 256 km open-access railway from the Company’s first mine site at Cloudbreak to Fortescue’s Herb Elliott Port, where it is shipped to overseas customers.
Operations and expansion
With a market capitalisation of around $30 billion and an ever-growing reputation for success, project completion is being immediately followed by planned expansion.
Fortescue’s tenement holdings are the largest in the Pilbara and as no iron ore major has our expansion leverage, we are well placed to increase our exports of iron ore from our current level of 45 million tonnes per annum (mtpa) to 200 million tonnes mpta over time.
Our expansion strategy is driven by permanent growth in China, India and Asia and the product of our first stage expansion to 100 mtpa is already committed. We are all set and ready to grow.
Locations
Fortescue has offices in Perth, Western Australia and Shanghai, China, with mine, port and rail operations in the Pilbara.
Number of employees
Fortescue employs 1262 people across its operations. Our expansion/construction project is likely to provide an opportunity for us to double in size over the next year or so.
