Fortescue Partners with TISCO for Hydrogen-Plasma Iron Production, Upgrades Pilbara Operations

Fortescue Ltd is pursuing a Real Zero carbon goal by 2030, partnering with China's TISCO to establish a pilot plant producing 5,000 tonnes of molten iron annually using hydrogen-plasma technology. The company is also enhancing its Pilbara operations with a 50MW/250MWh BYD Blade Battery Energy Storage System at North Star Junction, aimed at reducing diesel dependency.

Fortescue's iron ore shipments reached 49.7 million tonnes in Q1 2026, a 4.2% increase from the previous year, alongside a 3.3% rise in hematite production and a significant 30% increase at Iron Bridge. C1 costs fell by 9.9% to USD 18.17 per wet metric tonne.

Fortescue targets 195-205 million tonnes for the full year, with Iron Bridge contributing 10-12 million tonnes. The company has returned 20.3% to shareholders over the past year and paid over AUD 45bn in dividends since its inception.