Fortescue’s Q2 iron ore shipments edge higher, maintains FY25 outlook

(Image of Fortescue’s stockyard, Port Hedland, courtesy of Fortescue Metals).

Australia’s Fortescue on Thursday posted a marginal rise in its second-quarter iron-ore shipments, reflecting management of impacts of wet weather in the Pilbara region.

The uptick in iron ore shipments also comes when Fortescue, the world’s fourth largest iron ore miner, is making continuous efforts to boost output at the Iron Bridge project, which is expected to be producing at full capacity later this year.

Chaired by its billionaire founder Andrew Forrest, Fortescue posted quarterly iron shipments of 49.4 million metric tons (mt), compared to a market consensus of 49.2 mt.

The miner reported shipments of 48.7 mt a year earlier.

Fortescue maintained its fiscal 2025 guidance for iron ore shipments between 190 mt and 200 mt.

(By Shivangi Lahiri and Sneha Kumar; Editing by Alan Barona)

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