Fortescue Metals CEO Says Iron Ore Demand Is 'Very Strong'

The transcript discusses the iron ore market, highlighting strong demand and price fluctuations amid trade tensions. It covers supply dynamics, investment in new mines, and exploration efforts in Ecuador and Argentina. The role of China in global steel production is emphasized, along with diversification strategies. The transcript also addresses preparation for IMO 2020 regulations and explores hydrogen as a future energy source.

What was the record net profit after tax achieved by the company?

• $1.2 billion

• $2.5 billion

• $3.2 billion

• $4.0 billion

What is the main reason for the strong demand for iron ore in China?

• Increased automobile production

• Investment in infrastructure

• Rising gold prices

• Expansion of the tech industry

What is the primary focus of the company's exploration efforts in Ecuador?

• Gold

• Copper

• Silver

• Iron ore

Why is the company exploring opportunities in Argentina?

• To invest in renewable energy

• To explore copper prospects

• To expand their steel production

• To find new markets for iron ore

What is the company's medium-term objective regarding copper?

• To start copper production immediately

• To add copper to their portfolio in the 2020s

• To sell copper assets

• To focus solely on iron ore

What new regulations are the company preparing for in 2020?

• Increased tariffs on exports

• New mining safety standards

• Carbon emission limits

• IMO 2020 for marine fuels

What potential does the company see in hydrogen?

• As a replacement for iron ore

• As a new mining location

• As an energy source and export opportunity

• As a competitor to copper