Fortescue's Q1 iron-ore shipments rise, maintains fiscal 2026 outlook
Australia's Fortescue posted a 4.2% rise in first-quarter iron-ore shipments on Thursday as the firm logged a record for first-quarter production on the back of higher hematite shipments.
Its hematite operations shipped 47.6-million metric tonnes (Mt) during the quarter, 3.3% higher than last year, boosting the firm's first-quarter shipments to 49.7-million tonnes of iron-ore — in line with Visible Alpha's consensus of 49.6-million tonnes and above the 47.7-million tonnes shipped a year ago.
Fortescue said it has drawn down the yuan-denominated loan worth 14.2-billion Chinese yuan ($1.99-billion) that it had secured in August to ramp up its decarbonisation plans.
At the time, the five-year syndicated term-loan facility with a 3.8% per annum fixed interest rate was backed by leading Chinese, Australian and international lenders, including Bank of China 601988.SS and ICBC 601398.SS.
For the quarter, the world's fourth-largest iron miner's production costs stood at $18.17 per wet metric ton, 9.9% lower than last year.
Fortescue maintained its guidance for iron-ore shipments for fiscal 2026 between 195-million tonnes and 205-million tonnes.
Article Enquiry
Email Article
Save Article
To advertise email advertising@creamermedia.co.za or click here
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation