Fortescue CEO Power Says Iron Ore to Remain Core Business

The transcript discusses Fortescue's record financial performance, focus on the iron ore market, and strategic plans for future growth. It highlights the company's achievements in reducing costs, paying down debt, and increasing dividends. The discussion also covers market dynamics, including supply-demand balance and price trends, as well as operational improvements through technology. Fortescue's exploration efforts and potential diversification into other commodities are also explored.

What was the record shipment of Fortescue in the last 12 months?

• 190.5 million tons

• 180 million tons

• 170.4 million tons

• 160 million tons

How much did Fortescue reduce its C1 costs by?

• 20%

• 15%

• 17%

• 10%

What is Fortescue's core business focus?

• Gold mining

• Iron ore

• Copper mining

• Coal mining

Where is Fortescue looking to expand its exploration efforts?

• In Australia and some overseas regions

• Only in Australia

• Only overseas

• In Africa

What recent trend has been observed in Qingdao iron ore inventories?

• They have increased

• They have remained stable

• They have decreased

• They have fluctuated wildly

What is the expected price range for iron ore per ton according to Fortescue?

• $45 to $55

• $55 to $65

• $75 to $85

• $65 to $75

What technology is Fortescue using to improve mining efficiency?

• Steam engines

• Traditional trucks

• Autonomous haulage and relocatable conveyors

• Manual labor

How does Fortescue plan to fund the replacement of the Firetail asset?

• Out of operating cash flows

• By selling other assets

• Through loans

• By issuing new shares

What is Fortescue's current dividend payout ratio range?

• 50% to 80%

• 40% to 60%

• 60% to 90%

• 30% to 50%

What is Fortescue's approach to strategic growth beyond iron ore?

• Focusing solely on iron ore

• Exploring other commodities and leveraging core skills

• Acquiring other companies

• Reducing exploration efforts