Fortescue Metals Group Stock News

https://www.investing.com/news/stock-market-news/airbus-strikes-deal-with-australias-fortescue-as-airlines-seek-hydrogen-boost-2779853

PARIS (Reuters) – European planemaker Airbus chose the Australian miner Fortescue Metals Group Ltd’s hydrogen unit to help it reduce CO2 emissions from flying, Fortescue Future Industries (FFI) said in a statement on Tuesday. The move, marked by the signing of a Memorandum of Understanding, reflected the companies’ “shared ambition … to support the entry-into-service … Read More

Fortescue CEO says 2.8km-long train will be ‘world’s most efficient battery-electric locomotive’

Marking its transition to a global #green renewables and resources company, Fortescue has today comp

Australian shares dropped nearly 2% on Thursday to hit their lowest in more than two weeks, as Ukraine announced a state of emergency amid rising fears of a full-scale Russian invasion, while CIMIC Group soared over 30% following a bid from Hochtief. The S&P/ASX 200 index was down 1.8% at 7,077.80 by 2329 GMT. The benchmark rose 0.6% on Wednesday. Global markets reacted sharply after Ukraine told its citizens in Russia to immediately come home and the US State Department mentioned that a Russian invasion remained potentially imminent. Australian shares weighed down by tech stocks, Ukraine tensions Miners plunged 3% to their lowest since early February, as iron ore prices slumped on concerns regarding demand prospects in China. Sector heavyweights BHP, Rio Tinto, and Fortescue Metals fell between 2.4% and 5.3%. Tech stocks dropped as much as 4.5% to hit their lowest since June 2020. ASX-listed shares of Block Inc lost up to 8.5%, while Xero Ltd slid 4.4%. Qantas Airways Ltd fell 1.7% after it posted a bigger-than-expected half-year loss and forecast a A$650 million hit to second-half earnings before interest and tax due to Omicron.

Veris has become part of developments at Fortescue Metals Group’s Iron Bridge magnetite project in Western Australia, signing a contract for pipeline infrastructure.

Veris has become part of developments at Fortescue Metals Group’s Iron Bridge magnetite project in Western Australia, signing a contract for pipeline infrastructure. Australian Mining .

A roundup of all the mining news in the precious metals sector with a variety of company news, mining sector analysis, newsletter writer insights and executive interviews.

Fortescue Metals CEO Elizabeth Gaines says the company has seen some “volatility” in the markets. Despite a record six months of iron ore production at Fortescue Metals, the company has seen a big fall in revenue and profit. Revenue fell 13 per cent to around US$8 billion and profit down a third at US$2.8 billion. “We’ve seen additional supply of lower grade iron ore, as well as production curtailments that have been enforced on the steel industry in China certainly in that last quarter of the calendar year,” Ms Gaines told Sky News Business Editor Ross Greenwood. “So, we’ve seen production curtailments, we’ve seen volatility, and we’ve seen growth in lower grade stocks and supply of iron ore to China.” She said the company is focused on the things it can control such as production, safety, and cost.

TBA

TBA

Fortescue Metals'' first-half profit fell after Chinese steel-makers bought less iron ore and the price of the commodity dropped.

Fortescue Metals'' first-half profit fell after Chinese steel-makers bought less iron ore and the price of the commodity dropped.

Iron ore miner Fortescue Metals posted a lower first-half profit and cut its dividend after the Chinese economy slowed and environmental limits were imposed on factory output before the Winter Olympics in Beijing.Fortescue on Wednesday revealed first-half net profit after tax dropped 32 per cent to $US2.