Andrew Forrest speaks during a Leadership Matters breakfast in Perth, Australia on April 10, 2025 in Perth, Australia. “Twiggy” Forrest an Australian mining magnate, philanthropist, and founder of Fortescue Metals Group (FMG), one of the world’s largest iron ore producers. Matt Jelonek/Getty Images
Australian mining company Fortescue reported a 41 percent decline in profit to US$3.4 billion in the 2025 financial year amid a major decline in iron ore prices despite an increase in shipments.
The average realised price of hematite fell from US$103 per dry metric tonne (dmt) to US$85 per dmt in 2025.
