Fortescue shipped a record 201.3 million tonnes of iron ore in the 2026 financial year. This volume represents a 1% increase from the prior year. The company surpassed the 200 million tonne milestone for the first time.
The Iron Bridge project contributed 9.0 million tonnes to the total result. However, Fortescue expects a non-cash, pre-tax impairment charge of approximately US$750 million related to the asset. The after-tax writedown totals US$525 million.
A revised and slower-than-expected ramp-up schedule for Iron Bridge caused the impairment. Fortescue guided total shipments for fiscal year 2027 at 197 to 207 million tonnes.