Iron ore giant’s profit falls, green energy vow stays
One of Australia’s mining giants reported his lowest annual profit in six years despite record posts due to falling iron ore prices.
Despite the decline, Fortescu Metals focused on Green iron, which is highly demanded from international trade partners, and promised to invest more research and development for renewable assets.
The world’s fourth largest iron ore firm fell to the previous year from US $ 5.68 billion in USD and reported a net profit of $ 3.4 billion ($ 5.2 billion) after the tax for 2025 financial years on Tuesday.
Throughout the year, the company sent 198.4 million tons of iron ore, but income decreased by 15 percent due to reduced commodity prices.
CEO Dino Otranto showed that record posts have achieved a high level of productivity of Fortescu, and remained the country’s lowest cost -cost iron ore manufacturer.
“Our operations have never been so strong,” he said to the investors.
“We are in a good position for 2026 FY with 195 to 205 million tons of shipment guidance.”
Throughout the year, Fortescu also acquired Red Hawk mining for $ 254 million for $ 254 million.
The company’s newly appointed growth and Energy General Manager Gus Pichot said that Fortescuie will continue to follow renewable energy opportunities to meet its own uncertainty and to sell solutions to other companies.
Carbonalization projects, battery electric trucks on mining sites will include technology and more investment in creating green metals, he said.
Green iron, which is produced using renewable energy sources, has the potential to reduce 90 percent of emissions caused by the steel production process.
“We invest in technologies that will reduce the cost of green hydrogen, start a green iron industry and offer our own green metal projects, Pichot said Pichot.
“We also think about what happened for Green Iron and how we can meet the demands from China and our customers.”
The Fortescu’s Christmas Creek project is expected to start green iron production this year and increase to produce 1500 tons.
However, the company’s commitments are coming weeks after the United States announced that two green hydrogen projects in Gladstone, Queensland, and the other in the United States.
Although Pichot is ready for delays, the price of green hydrogen will continue to decrease.
“Technology is healing quickly, costs will fall and market will come,” he said.
“We are trying to do this quickly, but at the same time realistic.”
Perth announced 60 cents per share per share and brought the full year dividend to $ 1.10.
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