Exploration

Fortescue was founded as an exploration company and we still believe that early stage exploration is the key to unlocking significant value. We hold the largest tenement portfolio in the Pilbara region of Western Australia. The resources in both the Western Hub and Eastern Hamersley include significant amounts of high iron content bedded iron ore, adding dry, low cost tonnes to our resource inventory. During FY24, activities focused on advanced exploration at Mindy South, Wyloo North and White Knight. In addition, near mine exploration continues to be a focus at both Solomon and the Chichester Hub.

In the critical minerals portfolio, Fortescue has an exploration focus on copper, lithium and rare earths. Exploration drilling is active in multiple jurisdictions, including Argentina, Chile, Brazil, Peru, Kazakhstan and Australia. Other exploration activities are progressing across the broader Latin American portfolio, and in Australia, Kazakhstan, Canada, Portugal and Zambia.