Money of Mine The Unbelievable Story of how Fortescue Beat the Odds
Today’s episode is an exploration into the story behind one of Australia’s greatest business success stories, Fortescue.
The company has paid over $42B in dividends in its brief history, which began at Andrew Forrest’s kitchen table just 22 years ago. Within a few years it was one of the largest companies in the nation as it smashed through records while creating its foundation at Cloud Break.
We focus in on the first 5 years, looking to relive the highs and lows, while attempting to understand the attributes that separated FMG from the pack.
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TIMESTAMPS
(00:00) The Rise of Fortescue: A Story of Wealth Creation
(00:36) The Early Years: Controversies and Challenges
(02:23) Twiggy's Pre-Fortescue Ventures
(09:13) The Birth of Fortescue Metals Group
(16:40) Building the Dream Team
(18:16) Aggressive Expansion and Exploration
(30:17) Infrastructure Ambitions and Market Dynamics
(36:50) Cracking the Geological Code
(38:22) Discovering Cloudbreak: A Game-Changer
(40:21) The Metallurgical Breakthrough
(42:14) Strategic Moves and Market Reactions
(53:07) The China Financing Debacle
(01:00:22) Land Access Negotiations and Controversies
(01:03:05) Innovative Mining Techniques
(01:06:11) Rail and Infrastructure Developments
(01:07:34) Financial Challenges and Strategic Partnerships
(01:08:57) Legal Battles and Regulatory Scrutiny
(01:12:06) Securing EPCM Contracts and Major Deals
(01:16:36) Equity Investment and Loan Details
(01:16:49) Fortescue's Financial Maneuvering
(01:19:17) The Clock is Ticking: Securing Funds
(01:22:20) Bond Rating Drama
(01:27:01) Construction Challenges and Triumphs
(01:33:12) Cyclone George and Its Aftermath
(01:36:01) Fortescue's Meteoric Rise
(01:39:52) Reflections on Fortescue's Journey
(01:40:19) The Entrepreneurial Spirit
(01:41:09) Lessons from the Past
(01:42:22) Innovative Approaches and Cultural Impact
(01:46:01) The Role of China and Market Dynamics
(01:49:59) Twiggy's Unique Leadership
(01:53:04) Final Thoughts and Legacy
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PARTNERS
Thank you to the mining services businesses that make this content possible:
· Axis Mineral Services – Crushing services for all requirements in mining, milling & civil applications | jason.orourke@axisminerals.com.au
· Sandvik Ground Support – The only ground support you’ll ever need
· Cross Boundary Energy – Independent power producer for the global mining industry | tim.taylor@crossboundary.com +61 466 184 943
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