Fortescue Ltd reported a rise in fourth-quarter iron ore output and record annual shipments driven by strong performance across mining, processing, rail and shipping operations.

Iron ore production (100% basis) reached 64.9 million wet metric tonnes (wmt) in the April-June quarter of fiscal 2026, up 1% year on year and 9% quarter on quarter. Full-year output totaled 246 million wmt, up 3% from the prior year.

Processing volumes (100% basis) rose 10% from the previous quarter to 52.8 million wmt in Q4, but fell 3% year on year. Annual processing reached 201 million wmt, broadly flat from a year earlier.

Shipments (100% basis) climbed 9% quarter on quarter to 52.7 million wmt in Q4, lifting full-year volumes to a record 201 million wmt, up 1% year on year. This included 9 million wmt of Iron Bridge concentrate and 192 million wmt of Hematite.

Fortescue-share shipments totaled 51.8 million wmt in Q4, up 8% from the prior quarter but down 5% year on year. Full-year Fortescue-share shipments reached 199 million wmt, up 1%.

The company guided FY2027 total iron ore shipments of 197-207 million wmt, including 11-14 million wmt from the Iron Bridge project (100% basis).

Hematite realised price in Q4 was $88.85 per dry metric tonne (dmt). Iron Bridge Concentrate sold at $118.20/dmt.

Fortescue sold 3.9 million wmt at Chinese ports through Fortescue Trading (Shanghai) Co., Ltd. in Q4, bringing full-year China portside sales to 16.7 million wmt.

Fortescue Growth and Energy Chief Executive Officer Gus Pichot said Fortescue continues to build on its decades-long strong partnership with China, engaging with China Mineral Resources Group through respectful, patient and good faith negotiations based on fair and proper market practices.

"Approached in that spirit, the iron ore trade can continue to grow and serve as a powerful example of partnership between Australia and China." Gus Pichot said.

Fortescue, headquartered in Western Australia, is among the world's largest iron ore producers. Since its first iron ore shipment to China in 2008, Fortescue has exported over 2 billion tonnes of iron ore to the country, making it one of China's core seaborne iron ore suppliers.