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Asia

Update: Market Chatter: Fortescue Benches Unnamed Executive Amid Sexual Harassment Investigation

(Updates to add Fortescue's response in the third paragraph)Fortescue (ASX:FMG) suspended an unidentified executive amid an external sexual harassment investigation, reversing an earlier decision to let the employee continue work during the probe, The Australian reported Tuesday, citing a company spokeswoman.The investigation is ongoing, and the company took the decision to suspend the unnamed executive based on external legal advice it received, the spokeswoman reportedly said.In response to' request for comment, a Fortescue spokeswoman said the company has engaged MinterEllison law firm to conduct an independent, external investigation into the allegations, and the employee subject to the allegations will not undertake any work for Fortescue while the investigation continues.Its shares fell 1% on market close.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

ASX:FMG
Asia

Market Chatter: Fortescue Benches Unnamed Executive Amid Sexual Harassment Investigation

Fortescue (ASX:FMG) suspended an unidentified executive amid an external sexual harassment investigation, reversing an earlier decision to let the employee continue work during the probe, The Australian reported Tuesday, citing a company spokeswoman.The investigation is ongoing, and the company took the decision to suspend the unnamed executive based on external legal advice it received, the spokeswoman reportedly said.Fortescue did not immediately respond to a request for comment from. Its shares fell 1% in recent Tuesday trade.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

ASX:FMG
Asia

Fortescue Reports 153% Rise in Western Australia Project Mineral Resource

Fortescue (ASX:FMG) said the mineral resource for its Blacksmith Project in Western Australia as of June 30 increased 153% to 615 million tonnes at an average iron grade of 56%, compared with 243 million tonnes at an average iron grade of over 59% a year earlier, according to a Thursday Australian bourse filing.The company said a maiden ore reserve of 196 million tonnes of dry product at an average iron grade of 58% has also been declared, with no ore reserve previously reported for Blacksmith.

ASX:FMG
Asia

Fortescue Fiscal 2026 Earnings Fall, Revenue Rises

Fortescue Ltd (ASX:FMG) logged $0.931 in EPS for fiscal 2026, compared with $1.095 a year ago, a Thursday filing showed.Analysts polled by FactSet expected $1.05.For the 12 months ended June 30, revenue from ordinary activities was $16.97 billion versus $15.54 billion previously, the Australia-listed iron ore miner added. Analysts expected $16.75 billion.The board declared a final dividend of AU$0.46 per share, down from AU$0.60 a year earlier, payable Sept. 29 to shareholders on record as of Sept. 2.For fiscal 2027, the company expects iron ore shipments to range from 197 million to 207 million tonnes.

ASX:FMG
Asia

Fortescue Produces First Hot Metal at Green Metal Project in Western Australia

Fortescue (ASX:FMG) said Wednesday it produced its first hot metal at its Green Metal Project at Christmas Creek in Western Australia, marking the first successful operation of its electric smelting process.The company said in a statement that the pilot project was built to test new technology and develop a pathway for ultimately producing green metal using Pilbara ore, with first hot metal meaning the project has successfully produced molten metal in its electric smelting furnace using a blended feedstock during commissioning.Commissioning will continue in stages, allowing the team to safely test, refine and optimize the process before progressing to larger-scale production, the company added.The company's shares rose past 2% in recent Wednesday trade.

ASX:FMG
Asia

Fortescue, BHP Group Shares Climb as Copper Prices Reach New Record

Shares of Fortescue (ASX:FMG) rose past 1% in recent trading on Thursday, while those of BHP Group (ASX:BHP) were up nearly 1% after copper prices reached a new record.Futures for delivery of the metal rose 1.3% to $6.703 per pound in New York.

ASX:BHPASX:FMG
Research

Bell Potter Upgrades Fortescue to Hold from Sell; Price Target is AU$17.40

Fortescue (ASX:FMG) has an average rating of underweight and mean price target of AU$18.35, according to analysts polled by FactSet.

ASX:FMG
Asia

Fortescue Shares Fall Amid Decline in Iron Ore Futures

Fortescue (ASX:FMG) shares fell almost 4% in recent Monday trade as iron ore futures fell to $94.15 per tonne in recent trade in Singapore, according to data from the country's stock exchange website.

ASX:FMG
Asia

Australian Shares Flat; Fortescue Flags $750 Million Impairment Charge on Iron Bridge Project

Australian shares were flat on Friday, with a positive bias, as investors reacted to optimism around artificial intelligence after tech giants posted their earnings and forecast updates.The S&P/ASX 200 Index was little changed to close at 8,976.80.Brent crude oil futures fell around 2% to trade around $87 per barrel amid signs of continuing tanker traffic through the critical Strait of Hormuz.Overnight on Wall Street, the S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average rallied 1.7%, 2.8%, and 1.2%, respectively.On the domestic front, Australia's producer prices, excluding exports, increased 1.3% in the June quarter, following a 0.4% rise in the March quarter, according to data from the Australian Bureau of Statistics.Australia's total private sector credit recorded an 0.8% month-on-month increase and an 8.5% year-on-year rise in seasonally adjusted terms in June, according to Reserve Bank figures.In company news, Fortescue (ASX:FMG) expects to book a non-cash impairment charge of around $750 million before tax and about $525 million after tax on its Iron Bridge project in fiscal year 2026, following a review of asset values under accounting standards and internal policies.Mayne Pharma Group (ASX:MYX) said its fiscal year 2026 revenue came in at AU$383.7 million, down 6% year on year from AU$408.1 million. Its underlying earnings before interest, taxes, depreciation, and amortization (EBITDA) for the fiscal year came in at AU$31.7 million, dropping 33% from the AU$47 million reported in the prior year.Lastly, Advanced Innergy Holdings (ASX:AIH) said that its fiscal year 2026 revenue is forecast to come in around 162 million pounds sterling, down 14% from its earlier guidance of 188 million pounds sterling, as risks to the guidance it earlier identified materialized with "the extended duration and recent escalation of the Middle East conflict." Its shares earlier reached an all-time low point, falling over 38%.

ASX 200ASX:AIHASX:FMGASX:MYX
Asia

Fortescue Flags $750 Million Impairment Charge on Iron Bridge Project

Fortescue (ASX:FMG) expects to book a non-cash impairment charge of around $750 million before tax and about $525 million after tax on its Iron Bridge project in fiscal 2026, following a review of asset values under accounting standards and internal policies, according to a Friday Australian bourse filing.Iron Bridge is an unincorporated joint venture in which FMG Magnetite holds a 69% stake, while Formosa Steel IB owns the remaining 31% interest, per the filing.The assessment incorporates a revised ramp-up schedule and updated production scenarios, including the 22 million tonnes nameplate capacity, the filing said.The impairment charge will be excluded from underlying net profit after tax, the filing added.The company's shares fell past 1% in recent Friday trade.

ASX:FMG
Asia

Fortescue Posts Lower Fiscal Q4 Total Iron Shipments

Fortescue (ASX:FMG) reported total iron ore shipments of 52.7 million wet metric tonnes (wmt) during the fourth quarter ended June 30, according to a Friday Australian bourse filing.The company recorded iron ore shipments of 55.2 million wmt for the quarter ended June 30, 2025, an earlier filing showed.Total ore mined during the quarter increased to 64.9 million wmt from 64.3 million wmt in the quarter ended June 30, 2025, while ore processed fell to 52.8 million wmt from 54.4 million wmt in the same period, the filing said.The company provided fiscal year 2027 guidance for iron ore shipments of 197 million to 207 million tonnes, with Hematite costs expected at $20.50 to $21.75 per wmt, metals capital expenditure of $3.7 billion to $4.7 billion, energy capital expenditure of around $150 million, and net operating expenditure of about $300 million.

ASX:FMG
Asia

Fortescue, Rio Tinto Shares Fall as Iron Ore Price Drops

Shares of Fortescue (ASX:FMG) fell nearly 1%, and those of Rio Tinto (ASX:RIO) were down 0.2% in recent trading on Tuesday after iron ore prices fell to the lowest level in nearly two weeks.The price of iron ore dropped by 1% to $98.60 per tonne.Meanwhile, shares of BHP Group (ASX:BHP) gained nearly 1%.

ASX:BHPASX:FMGASX:RIO
Asia

Investment Vehicle Owned by Andrew Forrest to Acquire Stake in EQ Resources; Shares Up 26%

EQ Resources (ASX:EQR) said Wonongarra, an investment vehicle owned by Fortescue (ASX:FMG) founder and executive chairman Andrew Forrest, agreed to acquire the entire ownership stake in the company owned by funds managed by Oaktree Capital Management, according to a Monday filing with the Australian bourse.The transaction involves 862.1 million shares and 35.6 million options, representing about 16.8% of the company's issued capital, the filing said.The transaction will not affect the company's strategy, operations, management, or employees, and notices regarding the ownership change will be filed in accordance with the Corporations Act 2001, per the filing.EQ Resources' shares rose 26% in morning trade on Monday.

ASX:EQRASX:FMG
Asia

Fortescue Served With Class Action Over Workplace Sexual Harassment, Sex Discrimination Allegations

Fortescue (ASX:FMG) said it has been served with a representative proceeding filed in the Federal Court of Australia containing allegations relating to workplace matters, including sexual harassment and sex discrimination, according to a Monday Australian bourse filing.The company said the claim is brought on behalf of current and former women who worked at Fortescue's Australian workplaces between Feb. 1, 2006, and Dec. 5, 2025, and who are alleged to have been impacted by the conduct described in the claim.The proceedings are at an early stage, and the amount of damages sought is unspecified, it added.The company's shares rose 1% in recent Monday trade.

ASX:FMG
Asia

Update: Market Chatter: Fortescue Hit With Additional Curbs by Chinese State-Backed Iron Ore Buyer

(Updates to add stock movement in the fourth paragraph)Fortescue (ASX:FMG) has been hit with additional restrictions from China Mineral Resources Group, the state-backed iron ore buyer that negotiates with global miners on behalf of the Chinese government, Bloomberg reported Friday, citing anonymous sources familiar with the matter.China Mineral Resources earlier set a July 15 deadline for steelmakers and traders to take delivery of portside Super Special Fines product from Fortescue. It has now told a number of domestic steel mills not to buy any new, US dollar-denominated consignments of Super Special Fines, according to the report.The reported development comes amid an impasse in price talks between Fortescue and China over long-term supply deals.Fortescue declined to comment on the matter in response to a query from. The company's shares rose around 2% in recent Monday trade.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

ASX:FMG
Asia

Market Chatter: Fortescue Hit With Additional Curbs by Chinese State-Backed Iron Ore Buyer

Fortescue (ASX:FMG) has been hit with additional restrictions from China Mineral Resources Group, the state-backed iron ore buyer that negotiates with global miners on behalf of the Chinese government, Bloomberg reported Friday, citing anonymous sources familiar with the matter.China Mineral Resources earlier set a July 15 deadline for steelmakers and traders to take delivery of portside Super Special Fines product from Fortescue. It has now told a number of domestic steel mills not to buy any new, US dollar-denominated consignments of Super Special Fines, according to the report.The reported development comes amid an impasse in price talks between Fortescue and China over long-term supply deals.Fortescue declined to comment on the matter in response to a query from. The company's shares gained nearly 2% in recent Monday trade after hitting a year-to-date low on Friday.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

ASX:FMG
Asia

Market Chatter: China Steel Mills Told to Refuse Iron Ore Deliveries from Fortescue

Chinese iron ore purchaser China Mineral Resources Group, or CMRG, called on domestic steel mills not to accept deliveries of iron ore products from Australia's Fortescue (ASX:FMG), Reuters reported Thursday, citing five people with knowledge of the matter.Fortescue's Super Special Fines and Fortune ​Fines are said to be lower-grade iron ore products, the report said.The move is seen as CMRG's way to control the entry of iron ore into the Chinese market, Reuters said.Fortescue did not immediately respond to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Shanghai Composite^SZSEASX:FMG
Asia

Monadelphous Group Secures Over AU$200 Million of Construction, Maintenance Contracts

Monadelphous Group (ASX:MND) secured more than AU$200 million of new construction and maintenance contracts, according to a Wednesday filing with the Australian bourse.The company won two awards from Fortescue (ASX:FMG), including one for the installation of wind turbine generators for a project in Western Australia, and another three-year contract for continued maintenance services across Pilbara operations in Western Australia, per the filing.Monadelphous also received two awards from Santos (ASX:STO), including an extendable three-year contract for multidisciplinary services for upstream field development and production operations, and another for the construction of temporary camp facilities at a project in Papua New Guinea where work is expected to complete by the end of this year.Lastly, Monadelphous obtained a three-year contract for continued operation and maintenance services at Synergy's Muja Power Station in Western Australia.

ASX:FMGASX:MNDASX:STO
Asia

Update: Fortescue Faces Class Action Over Alleged Sexual Discrimination, Harassment

(Updates with a Fortescue statement in the fourth and fifth paragraphs)Fortescue (ASX:FMG) allegedly failed to protect female employees and contractors in Australia from sexual discrimination, harassment, and a hostile work environment, according to a class-action lawsuit filed in Australia's Federal Court on Thursday.Law firm JGA Saddler, which filed the complaint, said reports of sexual harassment at Fortescue have been rising, but they "severely understate the true extent of sexual harassment" at the mining firm.It noted that Fortescue disclosed 31 allegations of sexual harassment at its Western Australian sites in 2020.In a statement to, Fortescue said it has not yet seen the new claim. A spokeswoman said that the company is committed to providing a safe and respectful environment for all employees.Fortescue's CEO of Metals and Operations, Dino Otranto, told reporters earlier on Thursday that the company takes the allegations "very seriously" and has more work to do to foster an open and inclusive workplace.The company's shares fell 1% in recent Thursday trade.

ASX:FMG
Asia

Fortescue Faces Class Action Over Alleged Sexual Discrimination, Harassment

Fortescue (ASX:FMG) allegedly failed to protect female employees and contractors in Australia from sexual discrimination, harassment, and a hostile work environment, according to a class-action lawsuit filed in Australia's Federal Court on Thursday.Law firm JGA Saddler, which filed the complaint, said reports of sexual harassment at Fortescue have been rising, but they "severely understate the true extent of sexual harassment" at the mining firm.It noted that Fortescue disclosed 31 allegations of sexual harassment at its Western Australian sites in 2020.Fortescue did not immediately reply to a request for comment from.The company's shares fell 1% in recent Thursday trade.

ASX:FMG

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