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Last $1.63 USD
Change Today -0.07 / -4.12%
Volume 1.3K
FSUMF On Other Exchanges
As of 5:20 PM 05/22/15 All times are local (Market data is delayed by at least 15 minutes).

fortescue metals group ltd (FSUMF) Snapshot

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52 Week High
07/30/14 - $4.60
52 Week Low
04/13/15 - $1.32
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fortescue metals group ltd (FSUMF) Details

Fortescue Metals Group Limited produces and sells iron ore in Australia. The company holds various tenements covering the Chichester and Solomon hubs located throughout the Pilbara region of Western Australia. It supplies iron ore to customers in China and South East Asia. The company was founded in 2003 and is headquartered in East Perth, Australia.

10,000 Employees
Last Reported Date: 02/16/15
Founded in 2003

fortescue metals group ltd (FSUMF) Top Compensated Officers

Chief Executive Officer and Executive Directo...
Total Annual Compensation: A$1.8M
Chief Financial Officer
Total Annual Compensation: A$1.0M
Director of Operations
Total Annual Compensation: A$309.2K
Compensation as of Fiscal Year 2014.

fortescue metals group ltd (FSUMF) Key Developments

Fortescue Metals Receives Approaches For Its Assets

Fortescue Metals Group Limited (ASX:FMG) received several approaches from Australian and Chinese investors for its assets.

Fortescue Metals Group Lays Off First of an Expected 700 Workers at its Pilbara Iron Ore Mines

Fortescue Metals Group has laid off the first of an expected 700 workers at its Pilbara iron ore mines following roster changes announced two weeks ago. Up to 200 workers were made redundant at the Cloudbreak and Christmas Creek mines. The cull was the result of moves to abandon family-friendly rosters of eight days on, six off in favour of a new 14 on, seven off roster to help it cut costs. The new system will mean Fortescue can run its rosters with three panels of workers in each crew, rather than four, which is expected to allow the company to shed up to 700 workers and still maintain its planned export rate of up to 165 million tonnes a year. The job losses were timed to coincide with a shift change at the two mines, with some workers told at the end of the shift they would no longer be required. A second group was told of the cuts after arriving at Cloudbreak yesterday. The workers were told to collect any remaining belongings from their rooms before being returned to Perth. Further cuts are likely in coming weeks. A spokesman said the roster change decision was a difficult one but unfortunately beyond control.

Fortescue Metals Group Issues $2,300 Million of Senior Secured Notes

Fortescue Metals Group Limited completed an offering of Senior Secured Notes. The offering was initially launched at $1,500 million and due to demand was upsized to $2,300. The offering is expected to settle on or about 27 April 2015, subject to customary closing conditions. It is estimated that the net proceeds from this offering will be approximately $2,203 million, after deducting estimated discounts and issue commissions. Fortescue will use the net proceeds to: redeem the outstanding 2017 and 2018 Senior Unsecured Notes; to swap certain of the 2019 Notes for New Senior Secured Notes and to repay, redeem, repurchase or otherwise retire outstanding indebtedness maturing in 2019.


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Valuation FSUMF Industry Range
Price/Earnings 3.9x
Price/Sales 0.5x
Price/Book 0.7x
Price/Cash Flow 3.8x
TEV/Sales NM Not Meaningful

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