Record Iron Ore Production Fails to Impress Fortescue Investors as Miner Ups China Investment
Higher-than-expected production costs mean market reaction to a second-quarter production record was not just muted, but share prices actually slid.
Andrew Forrest speaks during a Leadership Matters breakfast in Perth, Australia on April 10, 2025 in Perth, Australia. "Twiggy" Forrest an Australian mining magnate, philanthropist, and founder of Fortescue Metals Group (FMG), one of the world's largest iron ore producers. Matt Jelonek/Getty Images
A highest-ever first half-year figure for iron ore production, which failed to boost investor confidence in Australian mining giant Fortescue saw the company’s shares dig slightly, in contrast to competitor Rio Tinto, which rose for the second consecutive session.
Fortescue recorded higher-than-anticipated production costs, which saw it weaken marginally in the second quarter.
Rex Widerstrom
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Rex Widerstrom is a New Zealand-based reporter with over 40 years of experience in media, including radio and print. He is currently a presenter for Hutt Radio.
