Fortescue Metals Group Limited·Basic Materials

Fortescue Deputy Chairman Mark Barnaba discusses rising costs from the Iran war, China's growing influence and the miner's push to replace diesel with renewable energy. Barnaba speaks with Bloomberg's Haslinda Amin exclusively from the Bank of America's Breakthrough Technology Dialogue Asia Pacific in Singapore.

Fortescue delivers robust cash flow from iron ore, supporting diversification into copper and green energy initiatives. First-half 2026 results show 10% revenue growth to $8.4 billion, net income of $1.91 billion, and a 65% payout ratio with a fully franked 6% dividend yield. FSUMF maintains strong cost discipline, with C1 costs of $17.5-18.5/wmt and capex well-covered by $6.25-$6.50 billion in annualized operating cash flow.

Australia's Fortescue said on Friday it was expediting the rollout of an off-grid green energy system to eliminate fossil fuels, particularly diesel, from Pilbara mining operations.

Iron ore miners are at risk of incurring billions of dollars more in fuel costs if diesel prices continue to rise, a senior executive at Australia's Fortescue said on Monday.

Dino Otranto, CEO of Fortescue Metals, joins Squawk Box Asia to discuss how the Iran war is affecting the company's operations, and why periods of fuel insecurity underscore the urgency of decarbonization.
Fortescue Metals Group Limited engages in the exploration, development, production, processing, and sale of iron ore in Australia, China, and internationally. It also explores for copper and gold deposits. The company owns and operates the Chichester Hub that includes the Cloudbreak and Christmas Creek mines located in the Chichester ranges; and the Solomon Hub comprising the Firetail, Kings Valley, and Queens Valley mines located in the Hamersley ranges of Pilbara, Western Australia. It is also developing the Eliwana mine situated in the Pilbara region of Western Australia. In addition, the company holds a portfolio of properties situated in Ecuador and Argentina. Further, it provides port towage services. Fortescue Metals Group Limited was incorporated in 1983 and is headquartered in East Perth, Australia.
Basic Materials
Industrial Materials
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