Fortescue increased iron ore shipments by 4% y/y in July-September

In the first quarter of the 2025/2026 financial year (July-September), Australian mining company Fortescue increased its total iron ore supplies by 4% year-on-year to 49.7 million tons. This is stated in the company’s report.

As noted, this figure includes 2.1 million tons of products from Iron Bridge and is a record high for the first quarter.

Total ore production in July-September increased by 5% y/y – to 60.1 million tons. However, this is 7% less than in the fourth quarter of the previous financial year.

The company has maintained its full-year ore production forecast at 195-205 million tons (including 10-12 million tons of magnetite concentrate from the Iron Bridge mine).

In particular, Fortescue Metals CEO Dino Oranto noted that the company has demonstrated a strong start to the 2025/2026 financial year, having secured record ore supplies in July-September. Important milestones were achieved in the first quarter, including the successful syndication of a RMB-denominated term loan and the establishment of new global partnerships to help drive cost-effective decarbonization.

Oranto reported that 10 electric excavators are in operation, and the construction of the 190 MW Fortescue solar power plant in Cloudbreak is now more than a third complete.

As a reminder, Fortescue increased ore shipments by 4% y/y – to a historic high of 198.4 million tons in FY2024/2025 (ended in June). In April-June (the fourth quarter), this figure amounted to 55.2 million tons (+3% y/y). Total ore production for the financial year increased by 10% year-on-year – to 238.9 million tons.