Australian iron ore miner Fortescue Metals Group has announced its operational results for the fourth quarter and the whole financial year 2025-26 ended June 30.
In the given quarter, the company's iron ore shipments grew by 10.0 percent quarter on quarter and declined by five percent year on year to 52.7 million mt. while it mined 64.9 million mt of iron ore, rising by nine percent quarter on quarter and by one percent year on year.
In the financial year 2025-26, Fortescue's iron ore shipments amounted to 201.3 million mt, increasing by one percent from 198.4 million mt recorded in the previous financial year, while its iron ore production advanced by three percent year on year to 246 million mt.
Fortescue's iron ore shipment guidance for the financial year 2026-27 stands at 197-207 million mt, including 11-14 million mt from Iron Bridge.
Dino Otranto, CEO of the company stated that the company surpassed 200 million mt of shipments for the first time. He added that this performance enabled Fortescue to keep unit costs within its market guidance despite ongoing inflationary pressures. Otranto also said the company is continuing the rapid rollout of its green grid across the Pilbara region. According to him, volatility in global diesel prices has strengthened the commercial rationale for eliminating fossil fuels from Fortescue's operations. Rather than absorbing higher fuel costs, the company is investing in renewable energy infrastructure to reduce its exposure to fossil fuel price fluctuations and improve its long-term cost competitiveness. He noted that the green grid is also expected to create opportunities for the development of new industries by enabling Fortescue to supply renewable energy beyond its own operations. In addition, Otranto announced that Fortescue has started commissioning its Green Metal Project, with production of the first hot metal expected shortly.
