US EditionTrump Kills Twiggy Forrest’s US Green Hydrogen Dream
AUSTRALIA, JUL 24 – Fortescue's iron ore shipments hit a record 198.4 million tonnes in FY 2025 as it abandons two costly hydrogen projects, taking a $150 million writedown to focus on core mining operations.
- On July 24, 2025, Fortescue Metals Group announced record iron ore shipments for FY25, sending its shares up 5%.
- Fortescue cited well-controlled costs during the quarter and supported growth, the Iron Bridge operation reported 2.4 Mt in the quarter and 7.1 Mt in FY 2025, underpinning record shipments.
- For the three months ended 30 June, record shipments of 55.2 Mt highlight production strength, with full year volumes at 198.4 Mt and a cash balance of US$4.3 billion against US$5.4 billion in debt.
- In a strategic review, Fortescue Metals Group decided to mothball the $140 million Gladstone facility and expects a pre-tax writedown of US$150 million on the two abandoned hydrogen projects.
- Looking ahead, Fortescue aims to accelerate decarbonisation efforts while guidance for FY 2026 calls for shipments of 195 Mt to 205 Mt, including 10 Mt to 12 Mt from Iron Bridge, with CEO Dino Otranto saying the focus will be on safety and production records.
Insights by Ground AI
Does this summary seem wrong?
15 Articles
15 Articles
Colorado Springs GazetteReposted by 
Denver Gazette
Denver GazetteBoom fades for US clean energy as Trump guts subsidies
By Nichola Groom
·Colorado Springs, United States
Read Full Article
Sydney Morning Herald+2 Reposted by 2 other sources
Trump kills Twiggy Forrest’s US green hydrogen dream
The Australian billionaire has terminated a major hydrogen project in the US as the president guts clean energy funding and unwinds efforts to fight climate change.
·Sydney, Australia
Read Full Article
Green H2. Under this chemical term a little abscons hides an energy capable of decarbonizing our polluting industries and heavy transport. Only in France as in the EU, this innovative technology suffers from technocratic slowness.
Fortescue Hits Iron Ore Record, Drops More Hydrogen Projects
(Bloomberg) — Fortescue Ltd. shipped a record amount of iron ore last quarter — waving away concerns of diminishing demand from China, the world’s biggest buyer of the steel-making ingredient — and said it would drop several green-energy projects.
·Canada
Read Full Article
Coverage Details
Total News Sources15
Leaning Left4Leaning Right3Center3Last UpdatedBias Distribution40% Left
Bias Distribution
- 40% of the sources lean Left
40% Left
L 40%
C 30%
R 30%
Factuality
To view factuality data please Upgrade to Premium
