Learn more

Mining giant Fortescue Ltd (ASX:FMG) told investors that a strong record for iron ore shipments had propelled the company to its third highest earnings in history during the 2024 fiscal year. FMG’s underlying EBITDA (earnings before interest, taxes, depreciation, and amortization) came in at US$10.7 billion – a 7% rise from FY23 – reflecting iron ore shipments of 191.6 million tonnes (Mt) during the same period. The company also reported a net profit after tax (NPAT) of US$5.7 billion, plus earnings per share of US$1.85 (A$2.82). Chief Executive Officer Dino Otranto said FY24 had been a year o…