Forrest on the road less travelled

FORTESCUE Metals Group is soaring on the back of Western Australia’s iron ore, with its Eliwana mine helping it deliver record iron ore shipments of 189 million tonnes for net profit after tax of US$6.2 billion (A$9.03 billion), the second highest annual profit in FMG’s history.

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Eliwana flowers. Image by FMG.

In a presentation of the company's operational and financial performance in 2021-22, FMG chief financial officer Ian Wells said FMG achieved underlying earnings before interest, taxes, depreciation