Record production
On August 3, 2026, Australian mining company Fortescue released its FY2025/26 results (for the year ended June 30, 2026). During the period, total iron ore production increased 3% year on year to 246 million tonnes, mainly driven by higher output at the Iron Bridge mine, which rose to 33 million tonnes. Benefiting from stable production and logistics chain, the company's ore shipments hit a record high, up 1% year on year to 201.3 million tonnes. Despite inflationary pressures and higher diesel prices in Q4 (US$19.37 per wet metric tonne), costs remained within planned targets.
Asset impairment
Hematite full-year average selling price was US$90.66 per dry metric tonne, while Iron Bridge concentrate averaged US$120.46 per dry metric tonne. The company also announced a proposed non-cash impairment of approximately US$525 million (after tax) on Iron Bridge assets, reflecting an adjusted timetable for the project to reach 22 million tonnes of capacity.