Company Interview / Market Update | Fortescue, Origin Energy, Capstone Copper, Ora Banda, Monadelphous

Fortescue (ASX:FMG) expects a $US525 million after-tax impairment on its Iron Bridge magnetite project as it also reports record 2026 fiscal year iron ore shipments. The iron ore miner shipped a record 201 million tonnes in FY26, up 1 per cent on the prior year, while its costs came in within guidance. Iron Bridge shipments rose 27% to 9 million tonnes, but Fortescue said the revised ramp-up outlook and production scenarios, including nameplate capacity of 22 million tonnes a year, would trigger the non-cash impairment, which would be excluded from its August profit results. Fortescue ended FY26 with $US5.1 billion in cash and net debt of $US800 million and is guiding FY27 shipments of up to 207 million tonnes.

Origin Energy’s (ASX:ORI) Octopus Energy business added 2.2 million customers in the past financial year as the gentailer continued its international expansion. Origin has completed battery storage projects totalling 980 megawatts in operation and it's completed the legal separation of Octopus Energy and Kraken, with Kraken raising one billion US dollars. It's booked Pacific LNG production of 668 petajoules for FY26, exceeding guidance and received fully franked dividends of 911 million dollars towards the top end of expectations. It's also completed its initial review of a data security incident affecting approximately 900,000 customers, with the matter subject to an ongoing criminal investigation.

Capstone Copper (ASX: CSC) reports record second quarter results of adjusted earnings of $354 million, up 64% on the prior quarter. Revenue reached increased 36% year-on-year, supported by a realised copper price of 6.22 dollars per pound compared to 4.39 dollars per pound in the same quarter last year.

Ora Banda Mining (ASX:OBM) has expanded its Little Gem prospect in Western Australia following new drilling results. The company is targeting a Maiden Mineral Resource Estimate in late 2026.

And Monadelphous Group (ASX:MND) says its Kerman Contracting division has secured a $165 million design and construction contract with Rio Tinto. Work includes a heavy mine equipment workshop, washdown facilities, and fuel storage facilities. Construction begins this year and is expected to finish in 2028.