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Australian miner Fortescue posted a 5% drop in fourth-quarter iron ore shipments on Friday, hurt by subdued performance at Hematite operations.
Fortescue Deputy Chairman Mark Barnaba discusses rising costs from the Iran war, China's growing influence and the miner's push to replace diesel with renewable energy. Barnaba speaks with Bloomberg's Haslinda Amin exclusively from the Bank of America's Breakthrough Technology Dialogue Asia Pacific in Singapore.
Fortescue delivers robust cash flow from iron ore, supporting diversification into copper and green energy initiatives. First-half 2026 results show 10% revenue growth to $8.4 billion, net income of $1.91 billion, and a 65% payout ratio with a fully franked 6% dividend yield. FSUMF maintains strong cost discipline, with C1 costs of $17.5-18.5/wmt and capex well-covered by $6.25-$6.50 billion in annualized operating cash flow.
Australia's Fortescue said on Friday it was expediting the rollout of an off-grid green energy system to eliminate fossil fuels, particularly diesel, from Pilbara mining operations.
Fortescue Ltd (OTCMKTS:FSUMF - Get Free Report) shares passed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $14.11 and traded as low as $12.40. Fortescue shares last traded at $13.80, with a volume of 2,400 shares traded. Fortescue Trading Down 1.4% The firm's 50 day
Iron ore miners are at risk of incurring billions of dollars more in fuel costs if diesel prices continue to rise, a senior executive at Australia's Fortescue said on Monday.
Dino Otranto, CEO of Fortescue Metals, joins Squawk Box Asia to discuss how the Iran war is affecting the company's operations, and why periods of fuel insecurity underscore the urgency of decarbonization.
Australia's Fortescue said on Monday it will buy the remaining 64% of Alta Copper in a deal implying a total equity value of C$139 million ($101 million) for the Toronto-listed copper miner.
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