Fortescue Metals Group Ltd. is an Australian mining company started by entrepreneur Andrew "Twiggy" Forrest (previously of Anaconda Nickel). The company specializes in iron ore mining, and currently owns the rights to more iron ore in the Pilbara region than either Rio Tinto or BHP Billiton Ltd. As a "new force in iron ore", Fortescue has drawn investment from China and other emerging countries because of its close geographical proximity, the unlimited demand for steel and infrastructure growth, and its ability to be a future competitor with RIO an BHP (may be able to keep prices from spiraling upwards). The company is currently building transportation infrastructure (such as the world's highest payload capable railroad, and an efficient port with frigates) to haul ore from the remote mines to the coast where it can be shipped globally. Although they haven't even made their first shipment yet (expected in May 2008), Fortescue has already secured contracts with every single major steel manufacturer in China.
The company trades on the Australian Stock Exchange under the ticker FMG.
