en.Wedoany.com Reported - Fortescue achieved iron ore shipments of 48.4 million tons in the third quarter of fiscal year 2026, setting a record high for the same period, bringing cumulative shipments for the first three quarters to 148.7 million tons. Co-CEO Dino Otranto stated that this performance was driven by cross-business collaboration across the global team, while initial results have been achieved in operational decarbonization. The current volatility in global energy markets further underscores the importance of decarbonization in enhancing energy security, reducing costs, and eliminating emissions.
Fortescue is advancing the construction of a green power grid in the Pilbara region, including 630 MW of solar and 133 MW of wind power projects. As these renewable energy projects are gradually connected to the grid, the company will fundamentally transform the energy supply model for its Pilbara operations, reducing reliance on fossil fuels. Additionally, the Green Iron project team is accelerating efforts to produce the first batch of hot metal within this fiscal year, aiming to validate the process feasibility and initiate product testing to evaluate the most competitive and scalable green iron technology pathways.
Co-CEO Gus Pichot noted that the copper business is central to the company's growth and diversification strategy. The acquisition of Alta Copper has further expanded its critical mineral exploration footprint, with the Cañariaco Copper Project in northern Peru strengthening the asset portfolio and providing the company with an opportunity to participate in the development of highly promising copper resources. The company also announced an investment of $680 million in green energy infrastructure to expand green energy capacity in the Pilbara region, meeting the growing demand for green electricity from industrial sectors, including data centers.
In terms of safety operations, for the 12 months ending March 31, 2026, the company's Leading Safety Index (LSI) was 173, and the Total Recordable Injury Frequency Rate (TRIFR) was 1.4. Quarterly operational data shows that iron ore shipments in the third quarter of fiscal year 2026 were 48.4 million tons, a 5% increase compared to the same period in fiscal year 2025, including 46.4 million tons of hematite ore and 2 million tons of Iron Bridge magnetite concentrate. According to the optimized mine life plan, West Pilbara Fines will be gradually phased out in the second half of fiscal year 2026, and starting from fiscal year 2027, a new product with an iron grade of 55% will be introduced to the market, expected to account for 5% to 6% of total hematite shipments.
The Christmas Creek Green Iron project is scheduled to produce its first batch of hot metal in the fourth quarter of fiscal year 2026, with the team conducting in-depth research on reduction technology pathways. The company has commenced construction of the 133 MW Naraging Wind Farm and the 440 MW Solomon Airport solar photovoltaic farm, the latter of which will become the largest solar photovoltaic project in Western Australia upon completion. Fortescue announced an acceleration of the world's first industrial-scale, fully integrated green power grid, specifically designed to help large-scale industries eliminate fossil fuels. Under this plan, the company is building a total of 2.3 GW of renewable energy projects in the Pilbara region, including 1.5 GW of solar and 800 MW of wind power, supported by over 5 GWh of battery energy storage systems to ensure stable power supply.
For fiscal year 2026, guidance targets for total hematite shipments, hematite C1 unit cash costs, and capital expenditure remain unchanged. Due to weather impacts in the third quarter, the full-year shipment guidance for Iron Bridge magnetite concentrate has been adjusted to 9 to 10 million tons (on a 100% basis). The company is fully committed to optimizing the product portfolio for Pilbara operations (including hematite ore and Iron Bridge magnetite concentrate), considering port outbound capacity and maximizing product portfolio value, with further updates to be provided over the next three months.
This article is compiled by Wedoany. All AI citations must indicate the source as "Wedoany". If there is any infringement or other issues, please notify us promptly, and we will modify or delete it accordingly. Email: news@wedoany.com
