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Fortescue (OTC:FSUMF) Stock, Chaîne d'Options

Fortescue is an Australia-based iron ore miner. It has grown from obscurity start of 2008 to become the world's fourth-largest producer. Growth was fueled by debt, now repaid. Expansion from 55 million metric tons in fiscal 2012 to about 190 million metric tons in 2024 means Fortescue supplies around 10% of global seaborne iron ore. Further expansion above 200 million metric tons is likely once its 22 million metric ton Iron Bridge magnetite mine ramps up, likely in 2026 or 2027. However, with longer-term demand likely to decline as China's economy matures, Fortescue's future margins are likely to be below historical averages. More recently, Fortescue diversified into green energy, with ambitions to become a major supplier of green hydrogen and green ammonia. Its efforts are early stage.

Fortescue Ltd

Iron ore prices could remain subdued in the near future. Citi analysts see them hovering around $85 per ton by 2026, owing to incremental new supplies, rising inventories, and <a href="https://www.benzinga.com/topic/china">weak Chinese demand</a>.
&#8220;Not only has China's recent stimulus package fallen short of investor expectations, but the weekend's fresh disappointments from the inflation report and FDI data have also reinforced the view that China is still far from stabilizing its beleaguered economy,&#8221; said Hebe Chen, market analyst at IG, <a href="https://www.news.com.au/finance/business/mining/economic-tsunami-threatening-to-overwhelm-australia-after-donald-trumps-election-win/news-story/902d416fb5180b09ef457716eb39e6a7">per</a> News.com.au.
The property sector remains a significant drag on demand, with real estate investments falling by 10.1% year-on-year and new construction starts contracting by 22.2% over the same period. These challenges, coupled with growing iron ore inventories at Chinese ports — up 31% this year to nearly 150 million tons — paint the impact of a supply-demand imbalance pressuring prices. In 2025, BMI research sees iron ore averaging $100 per ton.
Geopolitical factors weigh the sentiment as Donald Trump's upcoming second term raises trade tensions. Analysts warn that rekindled tariffs could further dampen Chinese steel demand, creating additional headwinds for iron ore.
Read Next: EXCLUSIVE: <a href="https://www.benzinga.com/markets/commodities/24/11/41969513/exclusive-critical-metals-corp-advances-wolfsberg-lithium-project-unveiles-new-drilling-approval-and-saudi-plant-plans">Critical Metals Corp Advances Wolfsberg Lithium Project, Unveils New Drilling Approval and Saudi Plant Plans</a>
Finding itself between a rock and a hard place, as an important U.S. ally whose largest trading partner is China, uncertainty is pressuring the Australian mining sector. BHP Group Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHP#NYSE">BHP</a>) stock is down 20% year-to-date despite a strong recovery in September, as the market showed limited confidence in Beijing's ability to address those issues effectively.
Still, major iron ore producers, including BHP, Rio Tinto (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIO#NYSE">RIO</a>), Vale (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VALE#NYSE">VALE</a>), and Fortescue (OTC:<a class="ticker" href="https://www.benzinga.com/stock/FSUMF#OTC">FSUMF</a>), have maintained strong production levels. 
BHP achieved a record output of 260 million tons in the fiscal year ending June 2024, with guidance of 255 to 265 million tons for 2025. Rio Tinto shipped 332 million tons in 2023, projecting <a href="https://www.benzinga.com/news/earnings/24/10/41353474/rio-tinto-disappoints-on-q3-production-sets-positive-tone-about-organic-growth">323 to 338 million</a> tons in 2024. Vale increased its guidance to 323–330 million tons for 2024, while Fortescue shipped 191.6 million tons in the 2024 fiscal year and expects similar levels this year.
Simandou, the long-delayed <a href="https://www.benzinga.com/news/24/01/36544368/mining-milestone-rio-tinto-to-launch-worlds-largest-project-in-guineas-simandou-mountains">Guinean iron ore project</a>, is also expected to come online soon, adding significant new supply. Furthermore, global trends toward low-carbon steel production are reducing demand for high-grade iron ore, particularly in regions like the EU, where initiatives such as the Carbon Border Adjustment Mechanism are accelerating the shift to greener methods.
Read Next: • <a href="https://www.benzinga.com/24/11/42011906/exxon-mobil-set-to-cut-400-texas-jobs-after-pioneer-deal">Exxon Mobil To Cut 400 Texas Jobs In Stages Through 2026</a>
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FSUMF

VALE

Analysts See Iron Ore Below $100, Weak Chinese Demand

Fortescue Metals (OTC:<a class="ticker" href="https://www.benzinga.com/stock/FSUMF#OTC">FSUMF</a>), a leading iron miner, has announced a $2.8 billion investment in fleet electrification. Despite falling iron ore prices and high energy prices that caused it to <a target="_blank" href="https://www.benzinga.com/news/large-cap/24/07/39836855/fortescue-delays-green-hydrogen-ambitions-reaffirms-commitment-to-future-projects" rel="noreferrer noopener">pause green hydrogen projects</a> earlier this quarter, the company is firmly set on its green transition goals.
The multi-billion transaction will include purchasing 475 emission-free machines, including 360 autonomous battery-electric trucks, 55 electric excavators, and 60 new battery-electric dozers from Germany's Liebherr Group.
"You will watch the breath sucked out from CEOs' chests when they realize this is a $2.8 billion order; This is the future of the heavy industry. And it's zero emissions." Fortescue's chairman, Andrew Forrest, <a target="_blank" href="https://cdn.fortescue.com/docs/default-source/announcements-and-reports/fortescue-signs-green-equipment-partnership-with-liebherr-for-zero-emission-mining-solutions.pdf?sfvrsn=b9d61a71_5" rel="noreferrer noopener">stated</a>, following a Las Vegas mining expo.
Fortescue has set a bold target of reaching net-zero emissions by 2030, a goal that surpasses the ambitions of its peers, Rio Tinto and BHP.
While these competitors are also exploring electric haul trucks and other sustainable initiatives, Fortescue is pushing harder by focusing on eliminating fossil fuel use.
Unlike others who rely on carbon offsets, Forrest's strategy avoids what he calls "greenwashing," aiming for what he describes as "real zero."
Now read: <a target="_blank" href="https://www.benzinga.com/news/24/09/40983325/mining-industry-needs-5-4-trillion-in-investments-to-meet-2035-demand-mckinsey-says" rel="noreferrer noopener">Mining Industry Needs $5.4 Trillion In Investments To Meet 2035 Demand, McKinsey Says</a>
The company has already been testing electric equipment, such as the 55 Liebherr R 9500 E electric excavators, in its Pilbara operations. Once the entire fleet is electrified, Fortescue expects to eliminate approximately 95 million liters of diesel annually.
An important component of Fortescue's electrification is powering its operations using renewable energy. The company currently sources power from a 60MW solar farm at Chichester Hub and plans to expand to 100% renewable power.
The electrification effort has already moved downstream, as the company also announced an agreement with the Downer Group to develop battery-electric trains, pursuing the elimination of emissions on routes from mines to ports.
"The time of others persuading you that greenwashing is a better return to shareholders and your community is over. Fortescue invites you to join us. We can together be the trailblazers who forge the world's move away from fossil fuels," Forrest noted.
Read Next: <a target="_blank" href="https://www.benzinga.com/government/24/09/41015993/moodys-sounds-alarm-on-widening-deficits-diverging-credit-risks-what-trump-harris-cant-ignore" rel="noreferrer noopener">Moody's Sounds Alarm On Widening Deficits, Diverging Credit Risks: What Trump, Harris Can't Ignore</a>
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to <a href="mailto:licensing@benzinga.com" target="_blank" rel="noreferrer noopener">licensing@benzinga.com</a> to get started!
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Large Cap

Fortescue Announces $2.8B Electrification Deal, Chairman Claims 'Future Is Zero Emissions'

Australian iron ore mining giant Fortescue (OTC:<a class="ticker" href="https://www.benzinga.com/stock/FSUMF#OTC">FSUMF</a>) has hit the brakes on ambitious plans to transform into a green hydrogen leader. Management has announced an overhaul after a turbulent period that saw multiple<a href="https://www.benzinga.com/news/large-cap/24/06/39410710/fortescues-transition-to-green-energy-rocked-by-falling-iron-ore-prices-executive-turnover"> senior executive departures</a>.
While iron ore still generates most of the company's revenue, its founder and executive chairman, Andrew Forrest, has been steering towards green technologies. Still, a Fortescue spokesperson<a href="https://www.bloomberg.com/news/articles/2024-07-17/fortescue-cuts-700-jobs-and-appoints-new-chief-financial-officer"> told</a> Bloomberg that the company&#8217;s goal of producing 15 million tons of green hydrogen annually by 2030 has been put on hold owing to higher energy prices.
In a statement on Wednesday, Fortescue announced the job cuts as part of an effort to simplify the business structure. However, the company did not specify which departments would be affected by these layoffs.
&#8220;It&#8217;s a business that&#8217;s run hard around its decarbonization strategy. And whilst they haven&#8217;t pointed to which divisions are affected, that part of the business has continued to burn a lot of capital,&#8221; said Jarden Securities analyst Jon Bishop.
Now Read:<a href="https://www.benzinga.com/news/24/07/39796005/rio-tinto-reports-strong-first-half-with-major-gains-in-iron-ore-bauxite-copper-lithium-production"> Rio Tinto Reports Strong First Half With Major Gains In Iron Ore, Bauxite, Copper, Lithium Production</a>
Green hydrogen, produced by splitting water into hydrogen and oxygen molecules using renewable energy, has yet to be commercially viable anywhere in the world. Fortescue currently produces a relatively small amount at a plant in the Pilbara region of Western Australia, and recently committed to three additional projects with an investment of around $750 million.
&#8220;Our vision for Fortescue has not changed,&#8221; Forrest said. &#8220;I truly believe in the power that green hydrogen will unlock for decarbonizing hard-to-abate industry,&#8221; he noted, adding that Fortescue would continue to focus on green electricity in the Pilbara region and North Africa and green hydrogen in places like Brazil and Norway.
Per AFR's<a href="https://www.afr.com/chanticleer/reality-bites-for-forrest-s-hydrogen-dream-investors-won-t-mind-20240717-p5juid"> report</a>, Forrest also noted that the wars in Ukraine and the Middle East have increased global energy prices, making large-scale green hydrogen production unviable. &#8220;In that environment, you&#8217;re not going to bring in major sources of green hydrogen, which relies on cheap energy prices,&#8221; he told the newspaper.
Despite these setbacks, Fortescue remains committed to its green energy projects. The company is advancing plans for an advanced manufacturing facility in Michigan and has established an office in New York to attract further investment into its green energy ventures.
In addition to the restructuring, Fortescue announced key executive appointments. Apple Paget, who has been acting as chief financial officer for the past 11 months, will assume the role permanently. Meanwhile, Shelley Robertson, who joined Fortescue nine months ago as chief corporate officer, has been appointed chief operating officer.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/07/39819805/bp-secures-funding-for-advanced-green-hydrogen-plant-in-germany"> BP Secures Funding for Advanced Green Hydrogen Plant in Germany</a></li>
</ul>
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to <a href="mailto:licensing@benzinga.com">licensing@benzinga.com</a> to get started!
Photo: Shutterstock

Fortescue Delays Green Hydrogen Ambitions, Reaffirms Commitment To Future Projects

Fortescue Metals Group (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/FSUMF#OTCQX">FSUMF</a>), one of the largest global iron miners, is navigating a prolonged turbulence. Its stock declined over 25% year-to-date as the thinning management team grapples with weakening ore prices as it steers the company toward the <a href="https://www.benzinga.com/topic/clean-energy">green energy space.</a>
The year 2023 was marked by substantial executive turnover and personal upheavals for the company's leadership. Notably, CEO and founder Andrew Forrest separated from his spouse, Nicola Forrest, raising concerns as the couple holds a 36% stake in the company through the private investment company Tattarang.
Now read: <a href="https://www.benzinga.com/markets/asia/24/06/39379734/brazil-implements-plan-to-become-a-key-rare-earth-elements-supplier">Brazil Implements Plan To Become A Key Rare Earth Elements Supplier</a>
The executive shake-up started with the departure of Fortescue Future Industries chief financial officer Felicity Gooding last July, triggering an exodus that culminated with the departure of Global Growth Director and Deputy CEO, Julie Shuttleworth, earlier this month.
Shuttleworth, who oversaw operations in Africa and had been with the company for over a decade, is the sixth executive to leave Fortescue in less than a year, raising questions about the company's leadership in a transitional time.
Additionally, Fortescue has been grappling with infrastructure issues, notably the leaking pipeline at its Iron Bridge project. The company announced an 18-month repair plan, setting aside $100 million to address the problem. The pipeline, which is crucial for the project&#8217;s operations, has suffered multiple leaks, significantly affecting production and leading to revenue losses. The project, already over budget, has been a source of ongoing financial strain for the company.
This prolonged turbulence has started to affect institutional investor confidence. According to Reuters, the U.S.-based asset manager Capital Group sold 31.6 million shares of Fortescue, valued at nearly half a billion dollars.
Capital Group is Fortescue's third-largest shareholder. Prior to this transaction, it held 244 million shares. Such moves reflect a growing unease among major investors. The company didn't provide any additional information to Benzinga's request for comment.
The combination of falling iron ore prices, executive instability, infrastructure challenges, and waning investor confidence suggests that Fortescue is likely to face another difficult year ahead.
Also read: <a href="https://www.benzinga.com/news/24/06/39368533/snowline-golds-valley-deposit-emerges-as-high-grade-gold-resource-in-yukon">Snowline Gold&#8217;s Valley Deposit Emerges As High-Grade Gold Resource In Yukon</a>
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to <a href="mailto:licensing@benzinga.com" target="_blank" rel="noreferrer noopener">licensing@benzinga.com</a> to get started!
Image generated using artificial intelligence via Midjourney.

Fortescue's Transition To Green Energy Rocked By Falling Iron Ore Prices, Executive Turnover

Iron ore prices continue to plummet as Chinese demand disappoints, leading to an increase in inventories. The steelmaking material has experienced a nearly 25% decline from its peak in early January, reflecting the ongoing challenges faced by China&#8217;s real estate and manufacturing sectors. 
After a <a href="https://www.benzinga.com/markets/equities/23/11/35738319/iron-ore-deficit-looms-goldman-sachs-forecasts-supply-shortfall-for-year-end-report">predicted year-end rally</a>, the price completely reversed, nearing $110/ton, a level not seen since August.
The supply side is strong, with major iron ore producers, including Vale SA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VALE#NYSE">VALE</a>), Rio Tinto Ltd. (OTCPK: RTNTF), BHP Group Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHP#NYSE">BHP</a>), and Fortescue Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/FSUMF#OTC">FSUMF</a>) achieving 1.12 billion metric tons in 2023 — an increase of 1.7% in 2023 compared to the year before. Most producers raised production and shipment guidance for this year, contributing to further price pressure.
Now read: <a href="https://www.benzinga.com/markets/asia/24/03/37551998/chinas-gold-buying-spree-continues-16-month-streak-challenges-us-dollar-dominance">China&#8217;s Gold-Buying Spree Continues: 16-Month Streak Challenges US Dollar Dominance</a>
The National People&#8217;s Congress in Beijing offered little hope for a demand boost. Construction activity, a crucial driver for steel demand, remains sluggish due to China&#8217;s prolonged crackdown on property debt. The lack of significant infrastructure stimulus further hinders the revival of economic growth.
&#8220;For real estate companies that are seriously insolvent and have lost the ability to operate, those that must go bankrupt should go bankrupt, or be restructured, in accordance with the law and market principles,&#8221; said Ni Hong, Minister of Housing and Urban-Rural Development, according <a href="https://www.cnbc.com/2024/03/11/chinas-housing-minister-property-developers-must-go-bankrupt-if-needed.html">to</a> CNBC's translation.
&#8220;Those who commit acts that harm the interests of the masses will be resolutely investigated and punished in accordance with the law,&#8221; he added.
Ni's words echo the prolonged Chinese struggle with the real estate market. 
As early as 2020, Bejing started cracking down on developer's appetite for debt. The regulators included set limits of a liability-to-asset ratio of maximally 70%, a net gearing ratio of less than 100%, and a cash-to-short-term debt ratio of more than 1x. Those rules were forced deleveraging, which didn't fare well for companies that continuously sold the debt to purchase land development rights and relied on an appreciating market.
Nowadays, the emphasis on a &#8220;new model of real estate development&#8221; aimed at increasing affordable housing indicates a strategic shift, but few details have been provided. This approach suggests the property sector may continue to impede overall growth, influencing demand for industrial metals.
Furthermore, ING Research <a href="https://think.ing.com/downloads/pdf/article/industrial-metals-monthly-chinas-2024-economic-goals-disappoint">highlights</a> the rising iron ore inventories at major Chinese ports, reaching the highest level since April 2023. Despite a notable 8.1% increase in iron ore imports in the first two months of the year, domestic demand growth may prove insufficient to absorb the excess supply, keeping inventories at multi-month highs.
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to <a href="mailto:licensing@benzinga.com">licensing@benzinga.com</a> to get started!
Also Read: <a href="https://www.benzinga.com/markets/commodities/24/03/37537643/north-america-got-used-to-free-money-leading-to-debt-unsustainable-businesses-barrick-gold-ce">North America &#8216;Got Used To Free Money&#8217; Leading To Debt, Unsustainable Businesses: Barrick Gold CEO</a>
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RTNTF

No Bailout For Chinese Real Estate Developers Spells Trouble For Iron Ore Prices

<ul>
<li>Airbus SE&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/eadsy#OTC">EADSY</a>) has partnered with Australian miner&nbsp;Fortescue Metals Group Limited&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/fsumf#OTC">FSUMF</a>) hydrogen unit Fortescue Future Industries (FFI) to&nbsp;<a class="editor-rtfLink" href="https://www.fmgl.com.au/in-the-news/media-releases/2022/03/08/fortescue-future-industries-and-airbus-join-forces-to-help-decarbonise-aviation" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">help reduce CO2 emissions from flying</a>.</li>
<li>FFI and Airbus signed an MoU, under which the companies will collaborate closely, to implement green hydrogen as a fuel within the aviation industry.</li>
<li>They will look specifically at challenges around green hydrogen regulations, infrastructure, and global supply chains.</li>
<li>FFI will provide cost outlook and technology drivers on the various elements of the supply chain and will build infrastructure deployment scenarios for the supply of green hydrogen to targeted airports. Airbus will provide characteristics on fleet energy usage, scenarios for hydrogen demand in aviation, refueling specifications, and aviation regulatory framework.</li>
<li>Also Read:<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/03/26032191/boeing-and-airbuss-paths-diverge-on-buying-titanium-from-russia-will-the-supply-woes-worsen" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">&nbsp;Boeing And Airbus&#39;s Paths Diverge On Buying Titanium From Russia &mdash; Will The Supply Woes Worsen?</a></li>
<li>Price Action:&nbsp;EADSY shares closed lower by 6.64% at $25.04, and FSUMF higher by 1.07% at $14.15 on Monday.</li>
</ul>

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