Summary
• Total Recordable Injury Frequency Rate (TRIFR) of 1.0 at 31 December 2024, 44 per cent
lower than 1.8 at 31 December 2023.
• Total iron ore shipments of 49.4 million tonnes (Mt) in Q2 FY25 contributed to shipments of
97.1Mt in H1 FY25, the highest half year shipments in Fortescue’s history.
• Hematite C1 cost of US$18.24/wet metric tonne (wmt) was 10 per cent lower than Q1 FY25.
• Hematite average revenue of US$87/dry metric tonne (dmt) for the quarter, realising 85 per
cent of the average Platts 62% CFR Index.
• Iron Bridge Concentrate revenue of US$117/dmt was 99 per cent of the average Platts 65%
CFR Index and 113 per cent of the average Platts 62% CFR Index.
• Cash balance of US$3.4 billion and net debt of US$2.0 billion at 31 December 2024, after
capital expenditure of US$1.0 billion in the quarter.
• Continued progress towards transitioning Fortescue’s diesel mining fleet, with the award of a
contract to purchase over 100 pieces of zero emissions heavy mobile equipment from XCMG.
• Published the FY24 Modern Slavery Statement, reaffirming Fortescue’s ongoing commitment
to respect human rights and address modern slavery.
• Guidance for FY25 shipments, C1 cost and capital expenditure remains unchanged.
Fortescue Metals Chief Executive Officer, Dino Otranto said, “It's been an outstanding operating
performance in the quarter, with iron ore shipments of 49.4 million tonnes contributing to our highest
ever half year shipments of 97.1 million tonnes. We achieved this while maintaining our focus on
safety, as well as driving costs lower.
"Our decarbonisation plan is also making progress with a major heavy mobile equipment contract
awarded to XCMG during the quarter, which will support the transition of our diesel mining fleet to
zero emissions by 2030.”
Fortescue Energy Chief Executive Officer, Mark Hutchinson said, “We are continuing to advance
and commercialise our portfolio of green technologies which are needed to accelerate the transition to Real Zero.
“Our global team is also continuing to progress and refine our green energy projects in a disciplined
manner with a focus on completing the feasibility studies for projects in Norway and Brazil.” see & read more on
https://edge.sitecorecloud.io/fortescue17114-fortescueeb60-productionbbdb-8be5/media/project/fortescueportal/shared/documents/regulatory/asx-announcements/2024-december-quarterly-production-report.pdf |