Fortescue Metals Group Limited

Fortescue Ltd. engages in the development of iron ore deposits. It operates through the Metals and Energy segments. The Metals segment includes exploration, development, production, processing, sale, and transportation of iron ore, and the exploration for other minerals. The Energy segment is involved in the development of green electricity, green hydrogen, and green ammonia projects. The company was founded by John Andrew Henry Forrest in April 2003 and is headquartered in East Perth, Australia.

The Australian iron-ore giant is considering a big new mine in Gabon but first has to work out how it can transport the steel ingredient for export.

Fortescue's Africa Iron Ore Ambitions Challenged by Gnarly Terrain

The company reiterated an annual production forecast of between 190 million and 200 million tons for the year through June 2025.

Fortescue Iron Ore Shipments, Costs Rise

Australian mining tycoon Andrew Forrest, founder and executive chairman of Fortescue, says it is time for the world to walk away from the "proven fantasy" of net zero emissions by 2050 and to embrace "real zero" by 2040 instead. Fortescue, which is the world's fourth-largest iron ore miner, has outlined plans to stop burning fossil fuels across its Australian iron ore operations by the end of the decade.

Mining giant Fortescue says it's time to walk away from the 'proven fantasy' of net zero

Michael McCrae is leading Kitco's coverage of the mining sector. McCrae, who has both an MBA and CMA, knows how to build digital media properties.

Big Chinese stimulus juices metals, and Fortescue announces plans to buy 100 electric trucks

FSUGY is set to buy 475 emissions-free machines from Liebherr for $2.8 billion. It aims to decarbonize its entire iron ore mining operations by 2030.

Fortescue Inks $2.8B Deal to Buy Zero Emission Machines From Liebherr

Fortescue Ltd (ASX:FMG), the world's fourth largest iron ore miner, has agreed to buy US$2.8 billion worth of battery-electric trucks and diggers to replace over half its fleet. It signed a partnership with German-Swiss equipment manufacturer Liebherr to jointly develop technology that "paves the way for carbon-free mining".

Mining giant Fortescue agrees $2.8bn deal to electrify most of its fleet

Fortescue's FY 2024 was strong with $5.66B net profit, but expect pricing pressure due to lower iron ore prices and higher capex this year. The company benefits from economies of scale but faces challenges with lower grade iron ore and significant transportation costs. Fortescue's shift towards carbon-free energy and metals ventures hasn't yet yielded meaningful returns, impacting its pure-play iron ore status.

Fortescue: A Call Option On Rebounding Iron Ore Price

FSUGY's fiscal 2024 revenues, EBITDA and earnings improve year over year due to higher hematite average prices despite flat shipments.

Fortescue FY24 Earnings & Revenues Improve Y/Y on Higher Prices

Australia is positioned to meet strong demand from China for green iron, Fortescue said on Wednesday as it readies a pilot plant to begin production of the product using renewable energy next year.

Fortescue sets out to meet strong Chinese demand for green iron

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China's COSCO Shipping Corporation has signed a preliminary agreement with Australia's Fortescue to jointly build a green fuel supply chain to help reduce pollution from the shipping industry, the Chinese company said on Monday.

China's COSCO Shipping, Fortescue to build green fuel supply chain

Fortescue will reduce about 700 jobs, or 4.5% of its global workforce, in a fresh restructuring round, the Australian miner said on Wednesday, as it appointed acting Chief Financial Officer Apple Paget as its permanent group finance chief.

Australia's Fortescue to cut about 700 jobs; appoints insider Apple Paget as CFO

Fortescue Ltd. Sponsored ADR (FSUGY) has been upgraded to a Zacks Rank #1 (Strong Buy), reflecting growing optimism about the company's earnings prospects.

Fortescue Ltd. Sponsored ADR (FSUGY) Upgraded to Strong Buy: Here's Why

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Fortescue Metals has performed well, with a 25% increase in stock price and a total return of approximately 30% since September. The company's financial results show strong cash flow and low production costs, resulting in a gross profit margin of just under 60%. Fortescue is expected to continue generating cash and may maintain earnings above US$2/share, trading at around 8 times earnings.

Fortescue: An Iron Ore Giant With Strong Cash Flows

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The crash in prices for nickel and lithium, two key battery metals, could be a precursor to something more significant, a collapse in the price of iron ore which underpins the profits of some of the world's biggest mining companies.

Profit Collapse Looms For BHP, Rio Tinto And Fortescue

The iron-ore producer said its average price for iron ore was roughly US$108 a metric ton versus about US$87 a ton a year earlier.

Fortescue 1H Net Profit Up 41%, Raises Dividend

Fortescue Metals Group Ltd. (FSUGY) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #1 (Strong Buy).

Fortescue Metals Group Ltd. (FSUGY) Upgraded to Strong Buy: Here's What You Should Know

Carbon capture is not a solution for the energy transition and political leaders need to provide real, non-greenwashed, commitments to encourage investment, Andrew Forrest, executive chairman of Fortescue Metals, said on Tuesday.

Carbon capture tech a 'complete falsehood', says Fortescue Metals chairman

The world's fourth biggest producer of iron ore reported a 6% lift in iron-ore shipments on quarter, but cut expectations for annual exports from its new Iron Bridge operation.

Fortescue Iron Ore Shipments Rise; Iron Bridge Output Estimate Cut

Australia's Fortescue on Friday said it received 200 million euros ($219.3 million) from the European Union (EU) for its Holmaneset Project, a flagship green ammonia plant in Norway.

Fortescue gets 200 mln euros for Norway green ammonia plant

Iron ore prices continued its remarkable rally after China announced another stimulus package aimed at boosting the economy. It jumped to a high of $129.55 on Thursday, its highest point in over 10 months.

Iron ore price surge boosts Rio Tinto, BHP, Fortescue Metals stocks

(Kitco News) - Australian mining group Fortescue (ASX: FMG) announced on Tuesday that its Board has approved a final investment decision on two green energy projects and a green metal project, with total investment of approximately US$750 million over the next three years.

Australian iron ore miner Fortescue pours $750M into green energy and metals initiatives

Australia's Fortescue approved on Tuesday an estimated total investment of about $750 million over the next three years for two green energy projects and one green steel project as the iron ore miner seeks to become a top-tier clean energy producer.

News for Fortescue Metals Group Limited Stock (FSUGY)