According to the data, Fortescue Metals Group, Australia's fourth-largest iron ore producer, had a net profit after tax in the last six months of 2022 of $2.37 billion.
Decreasing iron ore prices offset a record six-month shipment of the steelmaking commodity, causing the company's half-year profit to decrease. First-half 2023 profit decreased by 15%, much lower than expected.
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