Industry News

Fortescue's Transition To Green Energy Rocked By Falling Iron Ore Prices, Executive Turnover

Update time : 2024-06-21 17:03:16

Fortescue Metals Group

FSUMF
, one of the largest global iron miners, is navigating a prolonged turbulence. Its stock declined over 25% year-to-date as the thinning management team grapples with weakening ore prices as it steers the company toward the green energy space.

The year 2023 was marked by substantial executive turnover and personal upheavals for the company's leadership. Notably, CEO and founder Andrew Forrest separated from his spouse, Nicola Forrest, raising concerns as the couple holds a 36% stake in the company through the private investment company Tattarang.

Previous : Iran’s aluminium ingot production signals steady trajectory during the first two months of FY2025

Next : China’s A00 aluminium ingot price starts regaining but shows no sign of jump due to weak demand

Taiwan's coated steel demand falls short of expectations after typhoon reconstruction

Sep .19.2025

Taiwan's coated steel demand falls short of expectations after typhoon reconstruction

Global primary aluminum market has short supply of 119,900 tons in Jul

Sep .19.2025

Global primary aluminum market has short supply of 119,900 tons in Jul

China's aluminum-related production statistics in Aug

Sep .19.2025

China's aluminum-related production statistics in Aug

Saudi Arabia accelerates major water transmission projects, raising pipe and long steel demand

Sep .19.2025

Saudi Arabia accelerates major water transmission projects, raising pipe and long steel demand