Fortescue increased iron ore shipments by 4% y/y in the first nine months of FY2025/2026

The Australian mining company Fortescue achieved record iron ore shipments for the first nine months of the 2025/2026 fiscal year (which began in July 2025). This is stated in the company’s report.

This figure for the period amounted to 148.7 million tons, which is 4% higher year-over-year. In the third quarter of the current fiscal year (January–March), shipments totaled 48.4 million tons (+5% year-on-year).

Total ore production for the first nine months of the 2025/2026 fiscal year amounted to 181 million tons (+4% year-on-year), and in the third quarter – 59.5 million tons (+7% year-on-year).

The mining company maintained its ore shipment forecast for the 2025/2026 fiscal year at 195–205 million tons, but lowered its expectations for shipments from the Iron Bridge mine to 9–10 million tons compared to the previous estimate of 10–12 million tons.

Fortescue also announced that it is investing $680 million in the development of new green energy infrastructure in the Pilbara region.

As part of its “Green Grid” program, the company is building a 2.3 GW renewable energy network, including 1.5 GW of solar power, 800 MW of wind power, and over 5 GWh of battery storage capacity.

As a reminder, Fortescue plans to phase out fossil fuels at its mines by the end of 2028—by which time the construction of its green grid in the Pilbara region is expected to be completed. This will help the company reduce costs amid rising energy prices due to the conflict in the Middle East.