Fortescue has enjoyed a robust opening to the 2026 financial year (FY26), highlighted by record first-quarter iron ore shipments, and a bumper cash position.
The mining giant’s total iron ore shipments were 49.7 million tonnes (Mt) in Q1 FY26, which represents a four per cent increase on Q1 FY25. Fortescue’s shipments included 2.1 Mt from Iron Bridge.
The company also reported a cash balance of US$4.6 billion and net debt of US$1.9 billion as of 30 September 2025, following the payment of the FY25 final dividend of US$1.2 billion and capital expenditures of US$908 million during the quarter.
“We reached important milestones this quarter, including the successful syndication of a Renminbi-denominated term loan and the establishment of new global partnerships that will help drive our profitable decarbonisation,” Fortescue metals and operations chief executive officer Dino Otranto said.
“We’re continuing to see delivery of this on the ground, with 10 electric excavators in operation and construction of our 190MW solar farm at Cloudbreak now more than one-third complete.”
Fortescue’s safety performance and progress on debarbonisation initiatives have also been positive, with the Climate Transition Plan accelerating the company’s ability to deliver on its target of “real zero” by 2030 and also catalyse decarbonisation globally.
“We are continuing to evolve our growth opportunities across metals, critical minerals, energy and technology in a disciplined and commercially focused way,” Fortescue growth and energy chief executive officer Gus Pichot said.
“Fortescue now has a global alliance of green energy and technology partners to work alongside to accelerate the delivery, scale and economics of decarbonisation.”
