Fudeshi River's Shipment Volume Exceeded 100 Million Tons in The First Half of Fiscal Year 2026

Fudeshi River's shipment volume exceeded 100 million tons in the first half of fiscal year 2026

On January 22, Forbes River released its operating reports for the second quarter of fiscal year 2026 (fourth quarter of 2025) and the first half of fiscal year 2026 (second half of 2025). According to the report, as of the first half of the fiscal year ending December 31, 2025, the shipment volume of iron ore from the Fords River reached 100.2 million tons, an increase of 3% compared to the same period in the fiscal year 2025, setting a new historical high for the Fords River.

According to a report by Forbes River, in the fourth quarter of 2025, the shipment of iron ore reached 50.5 million tons, of which the shipment of iron bridge magnet powder reached 2.2 million tons. In the second half of 2025, the cumulative shipment reached 4.3 million tons, an increase of 37% year-on-year; The mining volume reached 61.4 million tons, a year-on-year decrease of 1% and a month on month increase of 2%; Affected by the rise in diesel prices and exchange rate factors, the cash cost of iron ore C1 is $19.10/ton, an increase of 5% month on month. The overall C1 cost in the second half of the year is controlled at $18.64/ton.

For the full year target of the 2026 fiscal year, Forbes River stated that the iron ore shipment volume for the 2026 fiscal year is 195-2025 million tons, including 10-12 million tons (100% equity basis) from the Tieqiao mining area; The cash cost guidance target for C1 unit of hematite remains unchanged at $17.50-18.50 per wet ton, based on the AUD/USD guidance exchange rate of 0.65.

In addition, Forbes River also disclosed the progress of the Belinga project in Gabon in the report. A presidential special task force has been established to simplify and fully promote the planning and delivery of the Belinga iron ore project, including the comprehensive integration of mining, railway, and port construction. In terms of copper mining development, Fords River has reached a binding agreement with Alta Copper Company to acquire 64% of the issued and outstanding common shares that the company has not yet held. This means that Fords River plans to expand its copper mining investment portfolio and exploration layout in Latin America.

DeNuo, CEO of Fords River Metal Business and Operations, said, "We have achieved a historic high in excellent operations for the first half of the fiscal year, achieving a comprehensive breakthrough in iron ore shipments. This achievement is based on the foundation of safe operations and lays a solid foundation for achieving the annual shipment and cost targets for the 2026 fiscal year.