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Fortescue


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Iron ore drops further as strong supply, China steel sell-off weigh

UPDATE 1-Iron ore drops further as strong supply, China steel sell-off weigh Updates closing prices By Gabrielle Ng SINGAPORE, July 25 (Reuters) - Iron ore futures prices lost further ground on Thursday, weighed by strong global supply and top consumer China's persistently weak steel market, although hints of heavier monetary stimulus helped limit losses.
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Tech rout drags Australian shares to two-week low; resources hit

Tech rout drags Australian shares to two-week low; resources hit Tech stocks close at lowest since late June Gold stocks drop 2% Fortescue drops on energy capex rise plans Macquarie results disappoint investors Updates to close By Archishma Iyer and Sneha Kumar July 25 (Reuters) - A rout in local technology stocks, in line with a global sell-off, pressured Australian shares which ended at their lowest in two weeks, with sharp declines in heavyweight mining and banking indexes further weighing on
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Australian mining stocks drop on falling iron ore prices

BUZZ-Australian mining stocks drop on falling iron ore prices ** Australian mining stocks .AXMM fall as much as 1.7% to their lowest level since Nov 2022 ** Prices of iron ore futures fell, weighed by strong global supply and the persistently weak steel market in top consumer China IRONORE/ ** Fortescue FMG.AX , world's fourth-largest iron ore mine
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Iron ore drops further as strong supply, China steel sell-off weigh

Iron ore drops further as strong supply, China steel sell-off weigh By Gabrielle Ng SINGAPORE, July 25 (Reuters) - Iron ore futures prices lost further ground on Thursday, weighed by strong global supply and the persistently weak steel market in top consumer China, although hints of heavier monetary stimulus helped limit losses. The most-traded September iron ore contract on China's Dalian Commodity Exchange (DCE) DCIOcv1 fell for a fifth straight session to close morning trade with a loss of ne
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Australia's Fortescue slumps after increasing energy capex

BUZZ-Australia's Fortescue slumps after increasing energy capex ** Shares of Fortescue FMG.AX fall as much as 6.1% to A$20.02, their lowest level since Sept. 22, 2023 ** Shares on track for worst day since July 28, 2023, if current losses hold ** The world's fourth-largest iron ore miner says it will increase spending on its energy division to adva
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Australian shares fall 1% as mining and tech stocks drag

Australian shares fall 1% as mining and tech stocks drag July 25 (Reuters) - Australian shares fell 1% on Thursday, with all sectors except energy trading in negative territory after stock markets sagged worldwide on disappointing earnings from U.S. technology firms. The S&P/ASX 200 index .AXJO was down 0.95% at 7,888.4, as of 0106 GMT. The benchmark index ended 0.1% lower on Wednesday.
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Fortescue to step up energy spending despite job cuts

UPDATE 3-Fortescue to step up energy spending despite job cuts Fortescue recommits to hydrogen business Step up in energy spending disappoints analysts Says it will focus on pivot to green iron Adds details on green iron business in paragraphs 9-11 MELBOURNE, July 25 (Reuters) - Australia's Fortescue FMG.AX said on Thursday it will increase spending on its energy division to advance several new green hydrogen projects next year, disappointing analysts who had expected a company restructure to lo
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Australia's Fortescue says pivoting to produce green iron metal is 'next step for us'

Australia's Fortescue says pivoting to produce green iron metal is 'next step for us' MELBOURNE, July 25 (Reuters) - Australia's Fortescue FMG.AX plans to pivot to produce green iron metal, and its executives have been in China in the past weeks talking with potential partners for joint projects, CEO Dino Otranto said on Thursday. "Pivoting to producing green iron metal is the next step for us, and we see a massive potential in green iron industry out of Australia, supplying China," he told an a
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Australia's Fortescue forecasts higher annual iron ore shipments

CORRECTED-UPDATE 1-Australia's Fortescue forecasts higher annual iron ore shipments Corrects paragraph 4 to say Fortescue shipped 53.7 mt of iron ore, not 50.8 mt, during the quarter July 25 (Reuters) - Australia's Fortescue FMG.AX on Thursday forecast higher iron ore shipments for fiscal 2025 and posted a 24% sequential rise to record shipments in the fourth quarter.
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Fortescue Posts Qtrly Iron Ore Shipments Of 53.7 Million Tonnes

BRIEF-Fortescue Posts Qtrly Iron Ore Shipments Of 53.7 Million Tonnes July 25 (Reuters) - Fortescue Ltd FMG.AX : RECORD IRON ORE SHIPMENTS OF 53.7 MILLION TONNES (MT) IN Q4 FY24 FY25 GUIDANCE FOR TOTAL SHIPMENTS OF 190 - 200MT QTRLY ORE PROCESSED 50.8 MT QTRLY ORE MINED 59.0 MT FY25 GUIDANCE C1 COST FOR PILBARA HEMATITE OF US$18.50 - US$19.75/WMT Q
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Australia's Fortescue sees higher annual iron ore shipments

Australia's Fortescue sees higher annual iron ore shipments July 25 (Reuters) - Australia's Fortescue FMG.AX on Thursday forecast higher iron ore shipments for fiscal 2025, compared with a year ago. The world's fourth largest iron ore producer now expects to ship between 190 million metric tonnes (Mt) and 200 Mt of the steel-making commodity in fiscal 2025, up from 191.6 Mt shipped in fiscal 2024. That compares with Visible Alpha's consensus estimate of 201 Mt shipments, according to a note from
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Australian shares drifts lower, tracking Wall Street

Australian shares drifts lower, tracking Wall Street US futures drop after tepid Alphabet, Tesla results Telix Pharmaceuticals tops benchmark losses Energy stocks drop; real estate stock continue slide Gold stocks buck trend to rise 2.9% on higher bullion prices Updates to close By Aaditya GovindRao and Archishma Iyer July 24 (Reuters) - Australian shares drifted lower on Wednesday, tracking the lacklustre end on Wall Street overnight, while a drop in energy and real estate stocks also weighed.
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Australian shares end lower on rate outlook, miner South32's slump

Australian shares end lower on rate outlook, miner South32's slump ASX 200 closes at lowest in more than a week South32 plunges on viability of its alumina refinery Woodside Energy down over 2% NZ50 slips, but hovers near a 2-1/2-year high Updates to close By Sameer Manekar and Sherin Sunny July 22 (Reuters) - Australian shares started the week on a dismal note as rate-hike worries and uncertainty surrounding the U.S.
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Australia's mining stocks decline on falling iron ore prices

BUZZ-Australia's mining stocks decline on falling iron ore prices ** Australian mining stocks .AXMM fall as much as 1.2% to their lowest level since Nov. 9, 2022 ** Iron ore futures prices closed lower on Friday as a lack of definite stimulus from top consumer China and weak seasonal demand for steel weighed on the market O/R ** Shares of top miner
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Australian miners hit more than 1-1/2 yr low as copper prices slip

BUZZ-Australian miners hit more than 1-1/2 yr low as copper prices slip ** Australian mining sub-index .AXMM slips as much as 2.2% to hit its lowest level since November 2022 ** Copper prices hit three-month lows on Thursday due to a lack of new stimulus from a key political meeting in China MET/L ** Rio Tinto RIO.AX falls as much as 2.2%, hitting
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Australian shares slip off record high as jobs data fuels rate hike worries

Australian shares slip off record high as jobs data fuels rate hike worries Financials snap seven-day rally Fortescue drops 1.4% after flagging job cuts Australian jobs growth beats estimates Updates to close By Aaditya GovindRao July 18 (Reuters) - Australian shares closed slightly lower on Thursday as banks and tech firms weighed on the benchmark, while strong domestic jobs growth stoked fears about the central bank raising interest rates.
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Fortescue job cuts come ahead of expected spending ramp up on decarbonisation

UPDATE 3-Fortescue job cuts come ahead of expected spending ramp up on decarbonisation Recasts lede, updates share price move, adds detail on iron ore in paras 1, 8, 9-12 MELBOURNE, July 18 (Reuters) - Fortescue's FMG.AX shares slipped on Thursday following news of sweeping job cuts across its metals and energy divisions and a slowdown in the development of its green hydrogen business.
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Sparc Technologies Says Sparc Hydrogen Clarification

BRIEF-Sparc Technologies Says Sparc Hydrogen Clarification July 18 (Reuters) - Sparc Technologies Ltd SPN.AX : SPARC HYDROGEN CLARIFICATION ORGANISATIONAL UPDATE AT FORTESCUE WILL NOT IMPACT FORTESCUE'S INVOLVEMENT IN COMMITMENT TO SPARC HYDROGEN JV Further company coverage: SPN.AX
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Fortescue shares slip after job cut announcements

Fortescue shares slip after job cut announcements MELBOURNE, July 18 (Reuters) - Fortescue shares FMG.AX slipped as much as 0.9% on Thursday to A$22.15 as trading reopened following news of sweeping job cuts and that it was unlikely to meet a production target of 15 million tonnes of green hydrogen by 2030. Reporting by Melanie Burton; Editing by C
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Australia's Fortescue to cut about 700 jobs; appoints insider Apple Paget as CFO

UPDATE 2-Australia's Fortescue to cut about 700 jobs; appoints insider Apple Paget as CFO Rewrites throughout with further details July 17 (Reuters) - Fortescue FMG.AX will reduce about 700 jobs, or 4.5% of its global workforce, in a fresh restructuring round, the Australian miner said on Wednesday, as it appointed acting Chief Financial Officer Apple Paget as its permanent group finance chief.
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