Fortescue Ltd (ASX:FMG) has recorded its highest half-year shipments in the company’s history, coming in at 97.1 million tonnes in the first half of the 2025 fiscal year, according to its production report for the December quarter.

The company shipped 49.4Mt in the second quarter of FY25 to make up those numbers, also noting a 10% fall in the cost of hematite C1 – now set at US$18.24/wet metric tonne (wmt) – compared to Q1 F25.

Average revenue from hematite was US$87/dry metric tonne (dmt) for the quarter, this being 85% of the average Platts 62% CFR Index. Additionally, concentrate revenue from Iron Bridge was US$117/dmt – 99% of the average Platts 65% CFR Index and 113% of the average Platts 62% CFR Index.

The numbers have been quite impressive for the period, Fortescue CEO Dino Otranto declared after the Thursday update release.

“It’s been an outstanding operating performance in the quarter, with iron ore shipments of 49.4 million tonnes contributing to our highest-ever half-year shipments of 97.1 million tonnes,” Mr Otranto said.

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“We achieved this while maintaining our focus on safety, as well as driving costs lower.“Our decarbonisation plan is also making progress with a major heavy mobile equipment contract awarded to XCMG during the quarter, which will support the transition of our diesel mining fleet to zero emissions by 2030.”

FMG shares fell after the news. At 10:38 they were trading at $18.93; a 0.53% drop.

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