Latest Fortescue News

Prominence Energy Limited has secured a pivotal natural hydrogen exploration license in South Australia, marking a major step forward for its Gawler Hydrogen Project and positioning it among the state’s leading clean energy explorers.

MLG has delivered a robust FY2025 financial performance, marked by strong revenue growth, improved profitability, and a healthier balance sheet. The company’s strategic investments and contract wins underpin a confident outlook in the gold and iron ore sectors.

MLG Oz Limited reported a robust FY2025 with significant revenue and profit growth, driven by new contracts and operational improvements. Despite strong results, the company opts to retain capital, foregoing dividends to fuel future expansion.

Monadelphous Group Limited reported a robust 12% revenue increase to $2.27 billion and a 35% rise in net profit, driven by strong demand across resources and energy sectors and a record $2.5 billion in new contracts.

Peregrine Gold has identified a promising new Channel Iron Deposit target near its recent Coopers CID North discovery, with high-grade iron ore samples and plans for imminent exploration.

HyTerra Limited’s McCoy 1 well in Kansas has confirmed significant concentrations of geologic hydrogen and helium, advancing the company’s exploration ambitions with appraisal activities now underway.

Fortescue has approved a $3 million exploration budget for Strategic Energy Resources’ Canobie Project, setting the stage for a significant diamond drilling campaign targeting copper-gold mineralisation in northwest Queensland.

Fortescue has secured a landmark RMB 14.2 billion syndicated term loan, marking the first such facility by an Australian corporate and underscoring its deepening ties with China to support its decarbonisation goals.

Magmatic Resources has launched a new phase of exploration at its Weebo Gold Project in Western Australia, backed by promising high-grade gold assay results and fresh tenement applications.

Duratec Limited has acquired EIG Australia for up to $9 million, significantly boosting its fuel infrastructure and electrical services capabilities across key Australian sectors including Defence and Mining.

Magmatic Resources and Fortescue have agreed on a $3.5 million exploration budget for FY25-26 at the Myall Project, focusing on extensive drilling to unlock copper-gold potential. Early results highlight promising mineralisation at the Calais prospect, setting the stage for accelerated exploration.

Magmatic Resources has secured the Weebo Gold Project in Western Australia and reported encouraging copper-gold drill results at its Myall Project, maintaining a robust cash position of $4.7 million.