The Fortescue Ltd ( ASX:FMG ) share price is down around 37.0% since the start of 2024. The CSL Ltd ( ASX:CSL ) share price is about 6.5% above its 52-week low. FMG share price in focus Fortescue Ltd is an iron ore production and exploration company started by the well-known Australian polymath Andrew "Twiggy" Forrest. The company was founded in 2003 and has assets across the Pilbara region of Western Australia. Fortescue's main operation is iron ore production, shipping more than 190 million tonnes annually. However, Fortescue has also been ramping up exploration activities for materials like copper, rare earths, and lithium. This exploration covers countries including Australia, Argentina, Chile, Brazil, and Kazakhstan. This is all part of Fortescue's long-term strategy to take advantage of the shift to renewable energy.