Fortescue posts record shipments of 201.3m tonnes
- Fortescue reported record total iron ore shipments of 201.3 million tonnes for the 2026 financial year, alongside a cash balance of US$5.1 billion.
- The company share price was down at $18.86 following the operational update and broader materials sector weakness.
- Management outlined full-year 2027 shipment guidance of 197–207 million tonnes while continuing construction on its green energy infrastructure.
Fortescue (ASX:FMG) delivered record total iron ore shipments of 201.3 million tonnes for the 2026 financial year while keeping its hematite C1 unit cost at US$18.74 per wet metric tonne.
This performance exceeded the prior year's output levels as operations benefited from strong supply chain management and an increase in Iron Bridge concentrate shipments to 9.0 million tonnes.
The company stated that breaking through 200 million tonnes reflects the hard work of its teams across the Pilbara and sets a strong foundation for future production targets.
Fortescue stated that it expects to recognise a non-cash after-tax impairment charge of approximately US$525 million for Iron Bridge in its upcoming financial results following a review of ramp-up schedules.
The business aims to maintain steady production momentum through the next financial year while advancing its transition to zero-carbon operations.
Following the announcement, the Fortescue share price was down at $18.86.
The group continues to develop renewable power projects such as the Turner River solar farm to lower long-term operating costs across its mining network.
Recent strategic steps include expanding green energy generation capacity, progressing Native Title partnerships, and managing ongoing capital expenditures to support its long-term decarbonisation goals.
