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How did Fortescue Metals Group pivot from growth-at-all-costs expansion mode to become WA’s lowest cost producer?
Nev Power is the key executive leading a culture that has achieved such a remarkable productivity change.
Neville Power, CEO of Fortescue Metals Group Ltd
Fortescue Metals Group is a global leader in the iron ore industry, recognised for its culture, innovation and industry leading development of world class assets in the Pilbara, Western Australia.
Nev Power, Fortescue’s Chief Executive Officer, is leading Fortescue’s vision to be the safest, lowest cost, most profitable iron ore producer.
Since Nev’s appointment in July 2011, Fortescue has more than quadrupled its production to now exceed 165 million tonnes per annum and has reduced its production costs by over two thirds to position the company at the lowest end of the global cost curve. In 2016, Fortescue generated revenue of over US$7 billion.
As a proud West Australian company, Fortescue values its relationship with key stakeholders by working together to positively manage and create opportunities for Aboriginal people, build up communities, protect the environment and strengthen the broader Australian economy.