Fortescue (FSUGY) — Congressional Trading Activity

Fortescue is an Australia-based iron ore miner. It has grown from obscurity at the start of 2008 to become the world's fourth-largest producer. Growth was fueled by debt, now repaid. Expansion from 55 million metric tons in fiscal 2012 to about 200 million metric tons in 2026 means Fortescue supplies around 10% of global seaborne iron ore. Further expansion to about 210 million metric tons is likely once its 22 million metric ton Iron Bridge magnetite mine ramps up, likely in fiscal 2030. However, with longer-term demand likely to decline as China's economy matures, its future margins are likely to be below historical averages. Fortescue is diversifying into copper and green energy. It has big ambitions here, but its efforts are at an early stage.