Australia-based metals and mining company Fortescue announced its financial results for the first quarter of 2025. Accordingly, the company shipped 46.1 million tons of iron ore in the January-March period of fiscal 2025, up 7% compared to the previous quarter and up 6% compared to the same period last year.
Most of the total production came from Hematite operations, with shipments from the Iron Bridge project totaling 1.5 million tons in the quarter. Total shipments from the Iron Bridge project in the first nine months of 2025 reached 4.7 million tons. The increase in production was notable despite the Port Hedland Port being closed for five days due to severe weather conditions.
In addition, total iron ore shipments in the first nine months of FY2025 reached a record 143.2 million tons. The total amount of ore mined in this period was 55.5 million tons and the amount of ore processed was 47.6 million tons.
Fortescue's production costs also improved. Hematite segment C1 cash cost of production was USD 17.53/ton in the quarter, a decrease of 4% compared to the previous quarter and 7% compared to the same period last year.
Fortescue also took a significant step towards integrating the Blacksmith Iron Ore Project into its long-term mine plan with the acquisition of Red Hawk Mining for AUD 254 million. The optimization of Iron Bridge to reach its capacity of 22 million tons per year is expected to be completed in the fourth quarter of 2025.
The company also made progress in green technology, successfully delivering the first shipment of the T 264 Power System to Liebherr. In addition, Pit Boost technology developed for the Formula E World Championship and mid-race charging application were introduced to the series.
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