The Pilbara miner was recognised for its rapid trajectory from industry newcomer to world’s fourth-largest iron ore producer within a decade.

FMG was the only Australian-focused company to take out top honours at the awards, which recognise excellence in categories across the steel, metals and mining sectors.

Judges highlighted FMG’s efficient transport methods, record production and large untapped resources as key contributors to it winning the Rising Star category.

The company’s fast pace of development and comeback from financial trouble in 2012 also saw it named Metals Company of the Year.

In other categories, Klaus Kleinfeld from Alcoa and Chandra Shekhar Verma from the Steel Authority of India tied for CEO of the year.

Judges recognised Kleinfeld’s strategy of growing the value-add side of Alcoa while cutting smelting costs, with the company delivering a total shareholder return 45% better than its industry peers.

Alcoa’s value-add business accounted for 57% of its revenue in 2013.

SAIL chairman Verma was highlighted for steering a company of more than 100,000 employees through an extensive modernisation and expansion program.

He was recognised for improving the company’s operational performance to 112% of saleable steel capacity utilisation while demonstrating a strong commitment to social responsibility.

Judges said both leaders had worked well with their companies despite tough conditions in the aluminium and steel sectors.

In other areas, the lifetime achievement award was taken out by ArcelorMittal’s Gregory Ludkovsky.

“After coming to the U.S. in 1979 with $56.40 in his pocket, Ludkovsky, a Russian native, fought for a research position with Inland Steel, which Mittal Steel later acquired in 1998,” Platts said.

“Today, as vice president of ArcelorMittal’s global research and development, Ludkovsky presides over 11 laboratories and some 1,300 researchers.

Judges recognised Ludkovsky’s work at blending the R&D units in North America and Europe following the merger, and the development of high-strength automotive steels that promote passenger safety."

Elsewhere the steel industry leadership award was taken out by ArcelorMittal, while Reliance Steel & Aluminum won metals mover of the year.

The raw materials and mining category was won by London Mining, while Novelis won the aluminium industry leadership award.