Sydney, Jan 16, 2026, 16:50 AEDT — Market closed.
- Fortescue shares ended 0.3% higher, finishing at A$22.82.
- The miner has begun construction on its first operational wind project in the Pilbara region of Western Australia.
- Investors are eyeing Fortescue’s December quarter production report, due January 22.
Fortescue Ltd (FMG.AX) shares ended Friday 0.3% higher at A$22.82, following the iron ore miner’s update on advancing its efforts to electrify operations in the Pilbara.
This update is significant as Fortescue aims to swap diesel and gas at its mine sites for renewable energy, a move that could alter costs and capital expenditures for a company still reliant on iron ore.
This comes as traders watch China, the key market for Fortescue. China’s iron ore imports surged to a record 1.26 billion tons in 2025. But Bai Xin from consultancy Horizon Insights flagged that rising seaborne supply in 2026 might “pile pressure on prices” throughout the year. Reuters
Fortescue announced Thursday it has begun building its 133-megawatt (MW) Nullagine Wind Project, marking its first wind operation. The project will feature 17 turbines. (MW stands for power capacity.) CEO Dino Otranto said that achieving Real Zero means replacing diesel and gas with dependable, large-scale renewable energy. He highlighted that wind, solar, and battery power will support electrifying haul trucks, drills, processing plants, and rail.
The broader Pilbara iron ore patch is shifting as well. Rio Tinto (RIO.AX) and BHP (BHP.AX) announced plans to jointly mine up to 200 million metric tons of iron ore from neighboring sites in Western Australia. Rio’s iron ore chief executive Matthew Holcz described the move as one that will “extend the life of these operations” and “create additional value.” Reuters
For Fortescue, this kind of supply-side update highlights how even minor changes in seaborne volumes can send prices tumbling — and that, ultimately, it’s the price moves that carry most of the weight for the stock.
The near-term outlook from the wind project is anything but clear-cut. Its success hinges on how well the build-out is executed, costs, and how quickly approvals come through. Plus, it won’t provide a buffer for earnings if iron ore prices slip.
As the ASX remains closed until Monday, focus turns to upcoming company reports. Fortescue plans to publish its December 2025 quarterly production update on Jan. 22, with its FY26 half-year results set for Feb. 25.
