Fortescue Achieves Record 97.1 million tonnes Iron Shipments in Half-year

January 23, 2025 12:09 PM AEDT | By Team Kalkine Media

Fortescue Achieves Record 97.1 million tonnes Iron Shipments in Half-year — Image source: shutterstock

Operational and Financial Performance

In the second quarter of FY25, Fortescue shipped 49.4 million tonnes, contributing significantly to its record-breaking half-year figure. Notably, the company achieved a 10% reduction in hematite C1 costs, now standing at US$18.24 per wet metric tonne. This improvement reflects Fortescue's ongoing commitment to operational efficiency and cost optimisation.

The company’s revenue from hematite averaged US$87 per dry metric tonne, representing 85% of the average Platts 62% CFR Index. Additionally, revenue from the Iron Bridge concentrate stood at US$117 per dry metric tonne, equating to 99% of the Platts 65% CFR Index and 113% of the Platts 62% CFR Index.

CEO’s Remarks

Fortescue CEO Dino Otranto expressed pride in the company’s achievements, stating, “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.”

Mr. Otranto emphasised the significance of the results, attributing the company’s success to its disciplined operations and strategic focus on efficiency. The milestones highlight Fortescue's ability to sustain high production levels while enhancing its cost structure in a competitive market.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.