Fortescue achieved a series of milestones in the first half of the 2024–25 financial year (H1 FY25), but one stand-out is gaining the miner recognition as an iron ore kingpin.
Iron ore shipments from Fortescue operations rang in at 49.9 million tonnes (Mt) for the second quarter (Q2) of FY25.
This contributed to a total shipment record of 97.1Mt for H1, the highest half-year shipments in the company’s history.
Breaking records wasn’t the only highlight of the past six months for Fortescue, with the miner declaring a new partnership earlier this month that will see the company break into downstream iron ore processing.
Fortescue also signed a major deal with manufacturer XCMG in November 2024 for the supply of zero emissions mining equipment, slated to be worth $400 million.
“It’s been an outstanding operating performance in the quarter, with iron ore shipments of 49.4 million tonnes contributing to our highest ever half year shipments of 97.1 million tonnes,” Fortescue Metals chief executive officer Dino Otranto said.
“We achieved this while maintaining our focus on safety, as well as driving costs lower.
“Our decarbonisation plan is also making progress with a major heavy mobile equipment contract awarded to XCMG during the quarter, which will support the transition of our diesel mining fleet to zero emissions by 2030.”
Iron ore exploration continues in the Pilbara with a focus on near mine exploration at the Chichester Hub and Solomon.
Exploration activity on Fortescue’s critical minerals interests during Q2 included drilling on projects in Argentina, together with preparation for drilling in Peru and Kazakhstan with target generative activities continuing across the portfolio.
Feasibility studies and planning approvals continue to progress for the Holmaneset green hydrogen and ammonia project in Norway and the Pecém green hydrogen project in Brazil.
“We are continuing to advance and commercialise our portfolio of green technologies which are needed to accelerate the transition to real-zero,” Fortescue Energy chief executive officer Mark Hutchinson said.
“Our global team is also continuing to progress and refine our green energy projects in a disciplined manner with a focus on completing the feasibility studies for projects in Norway and Brazil.”
