"This record result demonstrated the efficiencies gained through our recovery plan following the ore car derailment in December 2023," CEO Dino Otranto said in Thursday's statement. Fortescue's quarterly and full-year production and sales report followed news of a significant restructuring, announced 8 days earlier, which will result in 700 job losses and the merger of the company's energy and iron ore businesses. Looking ahead to 2024-25, Fortescue expects to ship between 190 million and 200 million tonnes of iron ore in the 12 months through June 2025, including 5 million to 9 million tonnes of magnetite from Iron Bridge.