Fortescue Limited (FMG.AX), an Australian miner, said that it has reported a rise in iron ore mined and shipped for the third quarter. In addition, Fortescue has reaffirmed its annual iron ore shipments outlook.
For the third quarter of fiscal 2026, the company's total iron ore mined stood at 59.5 million tons, higher than 55.5 million tons in the same period last year. Total iron ore processed was 47.8 million tons as against the prior year's 47.6 million tons. Total iron ore shipped was 48.4 million tons, compared with 46.1 million tons in the previous year.
Looking ahead, for fiscal 2026, the company still expects total shipments of 195 million tons to 205 million tons. This is inclusive of Iron Bridge shipments of 9 million tons to 10 million tons, compared with the earlier guidance of 10 million tons to 12 million tons. Iron Bridge shipments' guidance has been revised down due to weather-related impacts in the March quarter.
For fiscal 2026, the miner anticipates metals capital expenditure of $3.3 billion to $4 billion. The company also projects energy capital expenditure of around $300 million.
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