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Highlights:
- Fortescue (ASX:FMG) reported record half-year shipments of 97.1 million tonnes for H1 FY25.
- Hematite C1 costs declined by 10% to US$18.24 per wet metric tonne compared to Q1 FY25.
- Iron Bridge concentrate revenue reached US$117 per dry metric tonne, aligning closely with market benchmarks.
Fortescue Ltd (ASX:FMG) achieved a milestone in the first half of the 2025 fiscal year, recording the highest half-year shipments in the company’s history. The production report for the December quarter detailed total shipments reaching 97.1 million tonnes for the period, with 49.4 million tonnes shipped in the second quarter alone.
Hematite C1 costs saw a significant decline of 10%, bringing costs down to US$18.24 per wet metric tonne compared to the previous quarter. This cost reduction reflects operational efficiencies and strategic management across Fortescue’s mining operations. The company reported an average revenue of US$87 per dry metric tonne for hematite, which represented 85% of the average Platts 62% CFR Index, showcasing the company's ability to secure favorable pricing in the market.
Revenue generated from Iron Bridge concentrate stood at US$117 per dry metric tonne, equating to 99% of the average Platts 65% CFR Index and 113% of the average Platts 62% CFR Index. These figures underscore the strong demand for Fortescue's premium products and the resilience of its operations amid evolving market conditions.
The production report highlighted the operational achievements that contributed to the record shipments. Enhanced productivity and efficient logistics played a crucial role in meeting demand, reinforcing Fortescue's position as a major player in the global iron ore market. CEO Dino Otranto emphasized the exceptional performance during the quarter, attributing the results to consistent operational excellence and strategic focus.
Market conditions and pricing dynamics remained favorable, enabling Fortescue to capitalize on the robust demand for iron ore. The company's continued focus on cost optimization and efficiency improvements positioned it strongly within the competitive landscape, ensuring sustained shipment volumes and revenue growth.
Looking ahead, Fortescue is set to maintain its operational momentum by leveraging its low-cost production model and expanding its value-added product offerings. With ongoing projects and infrastructure enhancements, the company remains committed to delivering strong results in future periods.
The latest production report reaffirms Fortescue's ability to achieve record-breaking shipment volumes while maintaining cost discipline. These accomplishments align with the company’s broader strategic objectives and reinforce its commitment to operational excellence within the iron ore sector.
