Australian iron ore mining company Fortescue Metals Group has announced its financial and operating results for the 2025-26 fiscal year ended June 30.
In the fiscal year under review, the company's net profit was $2.87 billion, down 15.0 percent from the previous fiscal year, and sales revenue was $16.97 billion, up nine percent year-on-year. In addition, Fortescue's EBITDA increased by nine percent compared to the same period last year, to $8.64 billion over the period.
In fiscal year 2025-26, Fortescue produced 246 million tons of crude iron ore, an increase of three percent, and shipped record volumes in the same fiscal year. 201.3 million tons of iron ore, which is one percent more than in the previous fiscal year.
Fortescue's forecast for iron ore shipments for fiscal year 2026-27 is 197-207 million tons, including 11-14 million tons from the Iron Bridge.
The company said it continued to advance its decarbonization program in the Pilbara during the year, installing more than 300,000 solar panels at the Cloudbreak solar farm, completing 550 km of transmission lines, and installing a 370 MWh battery pack. It is planned that Fortescue's "green grid" will include 2.4 GW of renewable energy sources, including 1.5 GW of solar energy and 900 MW of wind energy. Electricity generation is provided through the use of batteries with a capacity of 4-5 ГВт-ч..
Meanwhile, Fortescue has announced the renewal of mineral resources and the first ore reserves for its Blacksmith project. As of June 30, 2026, Blacksmith's mineral resources increased by 153% year-on-year to 615 million tons with an average iron content of 56.0%. The project also has initial probable ore reserves of 196 million tons with an iron content of 58.0%. Fortescue stated that the Blacksmith Project has been included in the comprehensive hematite mine operation plan, and ore from the project will be processed at the existing Firetail and Kings ore processing plants.
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