Fortescue Metals Group said it would promote its chief financial officer, Elizabeth Gaines, to chief executive in a management reshuffle that comes as the miner is challenged by discounting of its main iron ore product.
■ 11月30日，F(xiàn)MG宣布對管理團(tuán)隊(duì)進(jìn)行調(diào)整：任命其首席財(cái)務(wù)官伊麗莎白·蓋恩斯擔(dān)任首席執(zhí)行官。目前，F(xiàn)MG的經(jīng)營因其主要鐵礦石產(chǎn)品價(jià)格下跌而承壓。
■ Ms Gaines will replace Nev Power, who is to stand down as chief executive next February after seven years in the role. Julie Shuttleworth will become deputy chief executive.
■ 蓋恩斯女士（澳大利亞采礦公司歷史上首位女性CEO）將在明年2月份接替目前已擔(dān)任首席執(zhí)行官7年的潘納威（Nev Power），朱麗·沙特爾沃思(Julie Shuttleworth)將擔(dān)任副執(zhí)行官。
■ Andrew Forrest, Fortescue’s chairman, said on Thursday that the appointments were made on merit and ability, rather than any gender guidelines. Fortescue is unusual in the mining sector for having a majority of female directors on its board in what remains a largely male dominated industry.
■ FMG主席安德魯·弗里斯特(Andrew Forrest)表示，這項(xiàng)任命是基于績效和能力做出的，與性別沒有關(guān)系。FMG董事會目前女性董事占有多數(shù)席位，這在由男性主導(dǎo)的礦業(yè)領(lǐng)域不太常見。
■ Mr Forrest also signalled the company would embark on a strategy of diversification, with a focus on marketing higher grade iron ore and possibly mining other minerals.
■ 弗里斯特還透露，F(xiàn)MG公司將開展多元化經(jīng)營戰(zhàn)略，將焦點(diǎn)轉(zhuǎn)向高品位鐵礦石市場，還可能進(jìn)入其他種類礦物的生產(chǎn)領(lǐng)域。
■ “In the future a majority of Fortescue’s production will be greater than 60 per cent iron content competing head to head in the higher grade markets,” said Mr Forrest. “This strategic target will be achieved through the Firetail replacement project without losing the company’s focus on minimum mine lives of 20 years.”
■ “未來，通過火尾礦（Firetail）項(xiàng)目，F(xiàn)MG生產(chǎn)的大部分產(chǎn)品的鐵品位將超過60%，進(jìn)入高品位鐵礦石生產(chǎn)商行列。而且，F(xiàn)MG耕耘達(dá)20年的低品位鐵礦石項(xiàng)目也不會馬上停運(yùn)?！备ダ锼固卣f。據(jù)悉，2013年5月FMG宣布索羅門礦區(qū)第一階段開發(fā)的火尾礦正式投運(yùn)，該鐵礦年產(chǎn)能2000萬噸，使該公司年產(chǎn)能達(dá)到1.15億噸。
■ Fortescue is working on options to replace its existing Firetail iron ore mine in the Pilbara, which would enable it to offer higher grade ore to customers that attracts higher prices. Fortescue’s main iron ore product has a 58 per cent iron content and is facing steep discounts.
■ FMG公司正在選擇其它項(xiàng)目以替代現(xiàn)有的皮爾巴拉地區(qū)的火尾礦鐵礦項(xiàng)目，并以高品位鐵礦和較高的價(jià)格進(jìn)入市場。目前，F(xiàn)MG的主要產(chǎn)品58%品位的鐵礦石的市場價(jià)格正面臨急劇的下跌。
■ In October Fortescue revised down its full-year guidance for the average price achieved for its 58 per cent iron ore fine product to a range of 70-75 per cent of the industry benchmark index, which is set at 62 per cent of iron ore fines.
■ 10月份，F(xiàn)MG調(diào)低了其年度58%品位鐵礦精粉的指導(dǎo)價(jià)格至62%品位礦石市場基準(zhǔn)價(jià)格的70%-75%。
■ Deutsche Bank said in a note this week export data for October and November suggested discounting was continuing and hitting exports of low grade iron ore, while higher grade ores were in strong demand.
■ 德意志銀行在一則通知中表示，出口數(shù)據(jù)顯示，10月和11月的價(jià)格下跌，持續(xù)打擊了低品位鐵礦石的出口，而高品位鐵礦石則需求強(qiáng)勁。
■ “Chinese port data shows BHP Billiton and Rio Tinto’s inventory is steady, whereas FMG’s has climbed. Low grade remains under pressure,” said Paul Young, an analyst at Deutsche.
■ “中國港口數(shù)據(jù)顯示，必和必拓和力拓的庫存保持穩(wěn)定，F(xiàn)MG庫存上升。低品位鐵礦仍然有壓力。”德意志銀行分析師保羅·楊（Paul Young）說。
■ Mr Forrest said that Fortescue was tackling the issue of discounts, which he admitted had surprised the company. He said Fortescue had already had some success in marketing its existing iron ore product in Europe, although 95 per cent of its ore continued to be exported to China.
■ 弗里斯特承認(rèn)這一情況出乎預(yù)料，他表示FMG正在應(yīng)對價(jià)格降低的問題。他表示，F(xiàn)MG現(xiàn)有產(chǎn)品在歐洲的部分市場獲得了成功，但是其超過95%的產(chǎn)品向中國出口。
■ Fortescue is also evaluating opportunities to diversify into other minerals and has begun exploring for lithium and copper.
■ FMG公司也在評估進(jìn)入其他礦產(chǎn)領(lǐng)域的機(jī)會，并已經(jīng)開始進(jìn)行一些鋰礦和銅礦項(xiàng)目的勘探工作。
■ The management reshuffle at Fortescue will see director of operations, Greg Lilleyman, promoted to chief operations officer. The former Rio executive had been tipped as a candidate to replace Mr Power. Ian Wells, who works as group manager of corporate finance, will be appointed chief financial officer.
■ 管理團(tuán)隊(duì)調(diào)整后，現(xiàn)任運(yùn)營董事格雷格·利利曼(Greg Lilleyman) 將升任首席運(yùn)營官。曾有消息稱，這位力拓公司的前任高管有望接替帕沃先生的職務(wù)?，F(xiàn)任集團(tuán)財(cái)務(wù)經(jīng)理伊恩?威爾斯(Ian Wells)將被任命為首席財(cái)務(wù)官。
■ When asked in a conference call if he would explore other opportunities, Mr Lilleyman said he was “going nowhere” and there were great opportunities at Fortescue.
■ 利利曼在一個(gè)電話會議中被問到是否在尋找其他的工作機(jī)會，他說，“哪兒也不去”，并表示現(xiàn)在FMG就有非常好的機(jī)會。
■ Fortescue Metals Group shares slipped 0.43 per cent to A$4.60 on Thursday.
■ FMG公司股價(jià)在上周四下跌0.43% 至每股4.6澳元。
Fortescue's new CEO promises greater efficiency
FMG新CEO承諾提高效率
■ Elizabeth Gaines takes the chief executive role at Fortescue Metals Group at a tricky time in its history.
■ 在FMG的歷史上，伊麗莎白·蓋恩斯擔(dān)任CEO職務(wù)的時(shí)機(jī)非常微妙。
■ Under her predecessor, Nev Power, FMG smashed industry benchmarks for cost efficiency. It became a centre of excellence in the complex world of mining logistics.
■ 在她的前任潘納威的領(lǐng)導(dǎo)下，F(xiàn)MG的成本打破業(yè)界記錄，并在礦業(yè)物流領(lǐng)域保持了領(lǐng)先地位。
■ Power made the company the industry leader in terms of shipping ore by rail and sea. It will soon do the same in trucks.Gaines says she will take FMG's costs to a new record low.
■ 在鐵礦石的鐵路和海上運(yùn)輸方面，潘納威使FMG公司成為礦業(yè)的領(lǐng)軍企業(yè)，而FMG在卡車運(yùn)輸方面也在迅速進(jìn)步。而蓋恩斯表示，她將進(jìn)一步降低FMG的成本至新紀(jì)錄的水平。
■ But her bigger challenge is the company's response to China's growing demand for higher quality ore. Over the past year the discount for FMG's lower grade ore has widened considerably forcing analysts to downgrade future earnings.
■ 但是她所面臨的更大挑戰(zhàn)，是如何應(yīng)對中國對于高質(zhì)量鐵礦石的需求。過去數(shù)年間，F(xiàn)MG低品位鐵礦的價(jià)格折扣顯著加大，而分析師們也調(diào)低了對未來收益的預(yù)測。
■ Earnings per share at FMG will decline in 2018 and 2019 and then plateau over the next three years, according to consensus earnings forecasts published by S&P Capital IQ.
■ 根據(jù)標(biāo)普資本智商公司(S&PCapital IQ)公布的共識收益預(yù)測，2018年和2019年FMG的每股收益將下跌，隨后將進(jìn)入為期三年的穩(wěn)定階段。
■ Fortescue's chairman Andrew Forrest responds vigorously to any suggestion analysts' forecasts will be accurate.He says he keeps a note on his office wall from an analyst who predicted mining of the company's Solomon iron ore deposit would not start until 2018. In fact, it started operations in 2011.
■ FMG主席安德魯·弗里斯特對于分析師的預(yù)測做出了激烈的回應(yīng)。他說在他辦公室的墻上記錄了一位分析師的預(yù)測——FMG的所羅門鐵礦石項(xiàng)目2018年前將不會投產(chǎn)。事實(shí)上，該項(xiàng)目2011年就開始了運(yùn)行。
■ Nevertheless, the company is clearly responding to market concerns about the discount.
■ 不管怎樣，該公司正在清晰地應(yīng)對市場對價(jià)格下跌的擔(dān)心。
■ On Thursday Forrest said the company would upgrade its production so that the majority was more than 60 per cent Fe grade ore. This would allow it to compete "head to head in the higher grade markets".
■ 上周四(11月30日)，弗里斯特表示，公司正在提升其生產(chǎn)能力，以期生產(chǎn)主要品位超過60%的礦石。這將使公司能夠“直面高品位礦石市場的競爭”。
■ Gaines says it is the pinnacle of her career to be chosen as CEO of FMG which has reshaped its entire top management team following Power's departure.
■ 蓋恩斯說當(dāng)選FMG公司的CEO是她職業(yè)生涯的高峰。這一次，在潘納威離職后，公司高級團(tuán)隊(duì)進(jìn)行了全面的調(diào)整。
■ Gaines should have a successful tenure as CEO of FMG provided the Chinese economy continues to grow at its current levels of around 6 to 6.5 per cent. FMG, which is generating about $1 billion in cash every half year, has a shareholder friendly 50 to 80 per cent payout ratio
■ 在中國經(jīng)濟(jì)以每年6%-6.5%的速度持續(xù)上漲的情況下，蓋恩斯應(yīng)該能夠勝任FMG公司的CEO工作。FMG每半年的現(xiàn)金收入為10億澳元，對股東有良好的50%-80%的股息支付率。