Fortescue delivers iron ore record but will book $227m impairment after scraping two hydrogen projects
Fortescue shipped 55.2 million tonnes of iron ore from Port Hedland in the June quarter to finish the 2025 financial year with 198.4mt of exports.
The results,
predicted by The West Australian
, were both a quarterly and yearly record for Fortescue.
But the company's ailing green hydrogen hopes have taken another blow.
'Following a detailed review, Fortescue has determined that the Arizona hydrogen project in the United States and PEM50 Project in Gladstone, Australia will not proceed,' it stated on Thursday.
'An assessment is under way to repurpose the assets and the land.'
Fortescue expects to book a $US150m ($227m) write-down after scrapping the two projects.
More to come . . .
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