In 2003, he took control of Allied Mining and Processing and renamed it Fortescue Metals Group. He is still a major shareholder of FMG, through his private company, The Metal Group. Since then, the company has grown to possess three times the tenements of its nearest rival in Western Australia's iron ore rich Pilbara region. Fortescue holds major deposits at Mount Nicholas, Christmas Creek, Cloudbreak, and Tongolo. In 2007, he took an interest and a directorship in Niagara Mining Limited, renamed Poseidon Nickel Limited, which had in 2006 acquired from WMC the Windara nickel deposits near Laverton, Western Australia.