Fortescue has announced a 10 per cent jump in iron ore shipments in the 2023–24 June quarter (Q4 FY24) on the corresponding 2023 quarter.
The increase was a record for the iron ore giant, bringing its total shipments to 53.7 million tonnes (Mt). This contributed to total shipments of 191.6Mt in FY24.
Total ore mined across Fortescue’s operations stood at 216.9Mt, while the total processed reached 189.9Mt.
Fortescue Metals chief executive officer Dino Otranto said the achievement marked “an outstanding quarter by the team who rallied together”.
“Importantly, we achieved this while maintaining our laser focus on safety with our total recordable injury frequency rate improving to 1.3 for the financial year,” Otranto said.
“This is an incredible achievement and shows a 28 per cent improvement from the previous year.”
On the decarbonisation front, Otranto said the company is going from strength to strength.
“During the quarter we commenced commissioning of our 100-megawatt solar farm at North Star Junction which will eliminate up to 180,000 tonnes of carbon dioxide equivalent from our operations every year once fully commissioned,” he said.
“Our hydrogen-powered haul truck prototype also operated on hydrogen for the first time and will soon be transported to our Christmas Creek site to undergo site-based commissioning and testing.”
Fortescue Energy chief executive officer Mark Hutchinson confirmed hydrogen is a key pillar of the company moving forward.
“As we lead the world in industrial decarbonisation, we remain steadfast in our commitment to green hydrogen,” Hutchinson said.
“Our financial discipline will ensure that we focus hard only on those projects that are economic and deliver best value for shareholders.
As the company kicks off the new financial year, Otranto said Fortescue has plans to position itself as a more clearly defined entity.
“Looking ahead to FY25, we’re seeking to achieve record shipments with guidance of 190–200Mt,”
“As part of bringing together Metals and Energy into One Fortescue, we are simplifying our structure and removing duplication that will ensure Fortescue is lean, impactful and can move quickly to seize opportunities.”