Record first quarter shipments and an upswing in safety initiatives has seen Fortescue put a strong foot forward to begin the 2024–25 financial year (FY25).
The major’s group total recordable injury frequency rate at September 30 stood at 1.2, 29 per cent lower than the 1.7 recorded in September 2023.
Total iron ore shipments were recorded at 47.7 million tonnes, four per cent higher than the first quarter of FY24 and a record for a first quarter.
Fortescue Metals chief executive officer (CEO) Dino Otranto said this strong performance puts the major on track to meet its FY25 market guidance.
“We also celebrated a number of other milestones including the commencement of works at our Green Metal project at Christmas Creek which marks a pivotal moment in our journey to build a green metal supply chain,” he said.
Fortescue Energy CEO Mark Hutchinson said it had also been a successful quarter for the green technology team.
“We topped off the milestone by also signing one of the biggest equipment deals on record, a $US2.8 billion partnership with Liebherr to jointly develop and validate a range of zero-emission equipment solutions for mining and heavy industry,” he said.
“Under the agreement, the equipment will be powered by the battery power system developed by Fortescue Zero. We continue to progress our green energy projects globally in a disciplined manner as we wait for the appropriate policy settings to support the market development.”
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