Fortescue Ltd. published the transcript of its FY26 Half Year Results investor and analyst call, attended by CEO Metals and Operations Dino Otranto, Growth and Energy CEO Gus Pichot and CFO Apple Paget, with additional remarks from Director of Marketing Ben Kuchel and Nick Nitschke. Management highlighted record first-half iron ore shipments of 100.2 million tonnes, industry-leading hematite C1 unit costs of US$18.64 per tonne, Underlying EBITDA of US$4.5 billion and NPAT of US$1.9 billion. The board declared a fully franked interim dividend of A$0.62 per share, representing a 65% payout of first-half NPAT. “We delivered US$4.5 billion in Underlying EBITDA and US$1.9 billion in net profit after tax,” Otranto said, adding the dividend “returns A$1.9 billion to our shareholders.” Fortescue detailed progress on decarbonisation projects and electrification, including construction of the 133MW Nullagine Wind Project, delivery of battery energy storage systems, and the Cloudbreak solar farm reaching about two-thirds completion. Otranto said decarbonisation is expected to remove structural costs, noting Fortescue has “flagged the potential US$2 to US$4 a tonne cost impact before 2030.” Paget said decarbonisation capex totalled US$426 million in the half and reiterated full-year guidance of US$900 million to US$1.2 billion. On growth, Pichot said Fortescue expects to “finalise shortly the acquisition of Alta Copper,” while the company continues exploration and planning work at the Belinga iron ore project in Gabon. Nitschke said at Belinga, “drilling continues,” with a focus on “the areas that have the most high-grade and lump potential,” and in Peru the initial priority is “securing community and social access” for the Alta Cañariaco project. Fortescue also discussed Iron Bridge’s ramp-up, reporting 14 million tonnes shipped since operations began at an average grade of 67% iron. The full transcript can be accessed through the link below.

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