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FORTESCUE. BY HANNA KOSTENETSKY 8C. THE COMPANY. FORTESCUE METALS GROUP is a relatively new company. It was only founded in 2003, and by 2011 it was named the 4 th largest iron ore producer in the world. The company employs over two and a half thousand people.

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Fortescue

FORTESCUE

BY HANNA KOSTENETSKY 8C


The company
THE COMPANY

  • FORTESCUE METALS GROUP is a relatively new company. It was only founded in 2003, and by 2011 it was named the 4th largest iron ore producer in the world. The company employs over two and a half thousand people.

  • SHARE PRICE: $4.83 (as of Tuesday May 6th)

  • CURRENT VALUE: $14.98B


The product
THE PRODUCT

Fortescue mines iron ore in Western Australia (Pilbara region) as shown below.


The product1
THE PRODUCT

  • Fortescue use open pit mining to obtain the iron ore.

Iron ore is mainly used to make steel. Steel is the most useful metal known being used 20 times more than all other metals put together. Steel is strong, durable and extremely versatile. The many different kinds of steel consist almost entirely of iron with the addition of small amounts of carbon and of other metals to form different alloys (e.g. stainless steel). Pure iron is quite soft, but adding a small amount of carbon makes it significantly harder and stronger. More than half of iron and steel products are used in transportation and construction, a fifth in machinery manufacture, and most of the remainder in cans and containers, in the oil and gas industries, and in various appliances and other equipment.



The process benification
THE PROCESS (BENIFICATION)

  • Iron ores go through a relatively simple crushing and screening process before being exported for use in steel making. After being crushed several times, to separate the magnetic properties of the ore from the pure iron, magnetic separators extract the magnetite and produce a concentrate.


The environment
THE ENVIRONMENT

  • Mining for iron ore usually destroys forest and wetlands by cutting down lots of trees just to get to the spot that has all the iron ore. Many mines require tailings dams to prevent waste being washed into the rivers. Unethical miners can dispense with the dams, to save costs, resulting in massive pollution downstream. In other cases, the tailings dam can overflow, and even breach, during periods of heavy rain. Also, the amount of dust, naturally occurring gases, engine exhaust and some chemical vapours in mines do cause health hazards to workers.


Conclusion
CONCLUSION

  • Though mining may be harmful to our environment, iron is an essential in our lives and we need it mined. New technology is always forming so hopefully better economical mining strategies and equipment will be used in the close future.


Video
VIDEO

http://www.youtube.com/watch?feature=player_embedded&v=tifXGhakrFg&list=UU03LYaoKZRJ7NFGLTaQ


Glossary
GLOSSARY

  • Iron (Fe) is considered as about five per cent of the Earth's crust and is the fourth most common element in the crust. Iron ores are rocks from which metallic iron can be economically extracted. The principal iron ores are hematite (Fe2O3) and magnetite (Fe3O4).

  • B (slide 2)- billions

  • Versatile: able to change easily from one activity to another or able to be used for many different purposes.

  • Carbon(C): a chemical element that exists in its pure form as diamond or graphite, and is an important part of other substances such as coal and oil, as well as being contained in all plants and animals.

  • Stainless steel: a type of steel containing chromium that is not damaged by air or water and does not change its colour.

  • Unethical: not ethical (based on moral beliefs)

  • Exported: To send goods to another country for sale.