Fortescue Ltd (OTCQX:FSUGY) Shareholder/Analyst Call October 30, 2025 11:00 PM EDT Company Participants Navdeep Gill - Company Secretary Trevor Stack John Andrew Forrest - Founder & Executive Chairman of the Board Dino Otranto - Chief Executive Officer of Metals & Operations Agustin Pichot - Chief Executive Officer of Growth & Energy Apple Paget - Group Chief Financial Officer Elizabeth Gaines - Global Ambassador & Executive Director Yifei Li Noel Quinn Yasmin Broughton Conference Call Participants Ros Ferguson Presentation Navdeep Gill Company Secretary Good morning, ladies and gentlemen. My name is Mona Gill, and I'm Fortescue's Company Secretary.
Mark Hutchinson will step down as Dino Otranto, who leads the miner's metals business, assumes an expanded role.
Fortescue Executive Chairman Andrew Forrest says he sees a "firm" and "resolute" purpose when it comes to leadership in China.
Replacing fossil fuels with green hydrogen depends on creating demand by making it price competitive, as buyers are unwilling to pay "green premiums", Fortescue Energy CEO Mark Hutchinson told Reuters in Davos.
Fortescue delivered solid Q1 2025 results but is facing stiff headwinds from plunging iron ore prices. Iron ore demand is expected to decline amid softening steel consumption in China, Fortescue's primary market. The bleak iron ore outlook has overshadowed Fortescue's strong investment fundamentals and attractive valuation at 5x EV/EBITDA.
The Australian iron-ore giant is considering a big new mine in Gabon but first has to work out how it can transport the steel ingredient for export.
Australian mining tycoon Andrew Forrest, founder and executive chairman of Fortescue, says it is time for the world to walk away from the "proven fantasy" of net zero emissions by 2050 and to embrace "real zero" by 2040 instead. Fortescue, which is the world's fourth-largest iron ore miner, has outlined plans to stop burning fossil fuels across its Australian iron ore operations by the end of the decade.
Michael McCrae is leading Kitco's coverage of the mining sector. McCrae, who has both an MBA and CMA, knows how to build digital media properties.
Fortescue founder Andrew Forrest discusses zero emission mining solutions and says, “We're going to green iron ore within a few years.” He speaks on Bloomberg Television.
FSUGY is set to buy 475 emissions-free machines from Liebherr for $2.8 billion. It aims to decarbonize its entire iron ore mining operations by 2030.
Fortescue's FY 2024 was strong with $5.66B net profit, but expect pricing pressure due to lower iron ore prices and higher capex this year. The company benefits from economies of scale but faces challenges with lower grade iron ore and significant transportation costs. Fortescue's shift towards carbon-free energy and metals ventures hasn't yet yielded meaningful returns, impacting its pure-play iron ore status.
FSUGY's fiscal 2024 revenues, EBITDA and earnings improve year over year due to higher hematite average prices despite flat shipments.