Green energy increases profits for iron ore miner

Fortescue, Australia’s fourth-largest iron ore producer, reported a 23 percent increase in net profit to $1.9 billion on revenue of $8.4 billion for the half-year ending December. The company achieved record iron ore shipments of 100.2 million tonnes and is focusing on decarbonization by eliminating diesel use in its Pilbara operations. Fortescue expects to ship 195-205 million tonnes of iron ore by 2025/26 and declared a first-half dividend of 62 cents per share, up from 50 cents last year.

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