Fortescue delivers iron ore record but will book $227m impairment after scraping two green hydrogen projects

Iron ore shipments from Fortescue’s Pilbara mines reached record levels, with 55.2 million tonnes exported in the June quarter, totaling 198.4 million tonnes for the fiscal year. However, the company has scrapped its Arizona hydrogen project and PEM50 Project in Gladstone, leading to a $US150 million write-down as it seeks to repurpose the associated assets.

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