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

Emirates Global Aluminium hits 50 million ton production milestone

Nov .21.2025

Emirates Global Aluminium hits 50 million ton production milestone

China's iron ore output falls in Oct, supporting prices

Nov .21.2025

China's iron ore output falls in Oct, supporting prices

Baogang Steel successfully trial-rolls stainless steel wire rods

Nov .21.2025

Baogang Steel successfully trial-rolls stainless steel wire rods

Global primary aluminum market has supply shortage in Sep

Nov .21.2025

Global primary aluminum market has supply shortage in Sep