Fortescue Metals Group Ltd (ASX: FMG) or FMG is a global leader in the iron ore industry, known for its leading development of world class infrastructure and mining assets in the Pilbara region of Western Australia. Fortescue was founded in 2003 by Andrew Forrest, who is now one of Australia’s wealthiest people. The vast majority of Fortescue’s iron ore, a steel-making ingredient, is shipped and sold to Chinese customers.
The All Ordinaries (ASX: XAO) was trading 1.9% higher today at lunch, with shares of TPG Telecom Ltd (ASX: TPM), Fortescue Metals Group Limited (ASX: FMG) and RESMED/IDR UNRESTR (ASX: RMD) moving and shaking the Australian share market.
The All Ordinaries (ASX: XAO) was trading 2.1% lower on Monday, with shares of Fortescue Metals Group Limited (ASX:FMG), Thorn Group Ltd (ASX:TGA) and Air New Zealand Limited (ASX:AIZ) moving the Australian share market.