Australian iron ore miner Fortescue Metals Group has announced its financial and operational results for the financial year 2025-26 ended on June 30.
In the given financial year, the company's net profit amounted to US$2.87 billion, dropping by 15.0 percent compared to the previous financial year, while its sales revenue amounted to US$16.97 billion, up by nine percent year on year. In addition, Fortescue's EBITDA increased by nine percent year on year to US$8.64 billion in the given period.
In the financial year 2025-26, Fortescue mined 246 million wet mt of iron ore, up by three percent, while it shipped a record 201.3 million wmt of iron ore during the same financial year, one percent higher than in the previous financial year.
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.
The company stated that it continued to advance its Pilbara Decarbonisation Program during the year, installing more than 300,000 solar panels at the Cloudbreak Solar Farm, completing 550 km of transmission lines and installing 370 MWh of battery storage capacity. Fortescue's Green Grid is planned to comprise 2.4 GW of renewable energy capacity, including 1.5 GW of solar and 900 MW of wind generation, supported by 4-5 GWh of battery storage.
Meanwhile, Fortescue has announced an updated mineral resource and a maiden ore reserve for its Blacksmith Project. As of June 30, 2026, Blacksmith's mineral resources increased by 153 percent year on year to 615 million mt at an average Fe grade of 56.0 percent. The project also has a maiden probable ore reserve of 196 million mt grading 58.0 percent Fe. Fortescue stated that Blacksmith has been incorporated into its integrated hematite life-of-mine plan, with ore from the project to be processed through the existing Firetail and Kings ore processing facilities.
