Iron ore giant's profit falls due to green steel hit

Iron Ore Giant’s Profit Falls 15 Percent as ‘Green Metals’ Gamble Takes Toll

The iron ore giant founded by billionaire climate crusader Andrew Forrest has posted a drop in statutory profit due to issues with its move into green metals and a court case brought by Aboriginal land owners. Fortescue’s statutory profit fell 15 percent to US$2.86 billion (A$4 billion) for the 12 months to June 30, the company announced on Aug. 20. That’s in part due to a US$525 million ($737 million) non-cash impairment on its troubled Iron Br…

Iron ore giant's profit falls due to green steel hit

The company founded by a billionaire climate activist has posted a 15 per cent drop in profit due to a $737 million write-off of its green metal mine.

Fortescue’s AI bet as it trims payout after Iron Bridge blow

Andrew Forrest’s Fortescue has trimmed its final payout to investors after booking a hefty fall in statutory net profit following a big write down in the value of its trouble-plagued Iron Bridge project.

Fortescue hits new records in FY26: profit up, dividends flow

The mining giant is paying dividends totalling $1.08 per share for FY 2026. The post Fortescue hits new records in FY26: profit up, dividends flow appeared first on The Motley Fool Australia.

Fortescue takes profit hit from Iron Bridge, marks ore export record

Record iron ore shipments, an impairment-led profit hit, and a green grid getting to work have underpinned a “solid” financial year for Fortescue.

Iron ore giant’s profit falls due to green steel hit

The iron ore giant founded by billionaire climate crusader Andrew Forrest has posted a drop in statutory profit due to issues with its move into green metals and a court case brought by traditional owners. Fortescue’s statutory profit fell 15 per cent to $US2.86 billion ($4 billion) for the 12 months to June 30, the company announced Thursday. That’s in part due to a US$525 million ($737 million) non-cash impairment on its troubled Iron Bridge m…