Fortescue shares surged nearly 4% after the miner reported first-half underlying EBITDA of $4.5 billion, a 23% jump from last year, driven by record shipments of 100.2 million tonnes and improved hematite prices. Net profit after tax also climbed 23% to $1.9 billion, while revenue rose 10% to $8.4 billion. The company declared a fully franked interim dividend of $0.62 per share, up 24% from last year, representing a 65% payout of first-half profit.

Chief Executive Dino Otranto attributed the strong performance to record volumes and lower unit costs, reflecting robust supply chain execution and ongoing decarbonisation efforts in the Pilbara. The miner maintained its full-year shipment and cost guidance, signaling confidence in continued operational momentum.