View settings100% · M+I+I · Resources excl. reserves · Native commodities

Reporting assumptions

These choices persist and are added to shared URLs.

Ownership basis

Show the full project inventory before ownership adjustment.

Display scale

Display contained quantities in millions of ounces or tonnes.

Resource treatment

Normalise Resources to exclude Reserves: where a project is flagged inclusive, net Reserves out of Resources so the figure is additional Resources beyond Reserves. Unknown-convention rows are shown as stated.

Resource total

Total Resource includes Inferred (JORC convention). Totals are re-derived from category rows wherever the document discloses them.

Recovery basis

Show the issuer's headline recoverable figure as reported. Lithium-brine reserves already have the brine-processing recovery factor applied; everything else is shown as stated.

Commodity view

Primary view: each commodity in its own contained unit (oz / t).

Blacksmith

Western Australia, Australia · Exploring · 100.0% ownedUnverified

Current R&R by category

Whole-project rollup at the latest vintage per category: printed project-level rows are preferred, and mining areas are summed (tonnes-weighted grade) only where the issuer prints no project-level row. Per-area and per-source detail in the Current R&R table below.

Category	Tonnes (Mt)	Grade (% Fe)	Contained (Mt Fe)	As at
Measured	117.00 Mt	56.90%	66.57 Mt Fe	30 June 2026
Indicated	481.00 Mt	55.70%	267.92 Mt Fe	30 June 2026
Inferred	17.00 Mt	56.10%	9.54 Mt Fe	30 June 2026
Total Resources	419.00 Mt	55.06%	230.72 Mt Fe	30 June 2026
Proved	—	—	—	—
Probable	196.00 Mt	58.00%	113.68 Mt Fe	30 June 2026
Total Reserves	196.00 Mt	58.00%	113.68 Mt Fe	30 June 2026

Sub-category rows are as disclosed (no Reserves-treatment netting); the Total rows honour the Resources treatment and Inferred-policy toggles, so components may not sum to the Total.

Dotted tonnes/grade are derived under the active Resources treatment: tonnes are netted of (or grossed by) the reserve tonnage alongside contained, and grade is re-derived as netted contained ÷ netted tonnes — not the published figures.

Cut-off grade

51.5000 % Fe · 57.5000 % Fe

Price assumption

—

JORC code year

2012

Peer benchmark — exploring Fe projects (18 with resources)Resource size P42Resource grade P69View on grade-tonnage chart →

Percentile of this project's current total Resource among covered peers (P100 = largest / highest grade). Basis and Inferred toggles apply.

Data quality

Latest source: Blacksmith Project Mineral Resource and Ore Reserve Update · 30 June 2026
Reporting code: JORC 2012
Convention: inclusive
Currency assumption: A$

Current R&R

Resources

Area	Category	Tonnes (Mt)	Fe		As at	Source	Provenance
Area	Category	Tonnes (Mt)	Grade (% Fe)	Contained (Mt Fe)	As at	Source	Provenance
Total	Measured	117.00 Mt	56.90%	66.57 Mt Fe	30 June 2026	6Unverified Evidence record Blacksmith Measured · Fe · as at 2026-06-30 Reported figure Area Whole project Basis 100% Ore tonnes (t) 117000000.0000 Grade 56.9000 Contained (t Fe) 66573000.0000 Classification Resource Source trail Blacksmith Project Mineral Resource and Ore Reserve Update 6 Published 2026-08-20 Verification Approved; not independently verified · Model extracted QA WARN: document contains mine-plan/LOM-inventory table vocabulary ('mining inventory') — such tables print production-target inventory, NOT a Mineral Resource estimate, and their rows look clean at store time (t23 TGM class). Map each row to its source table before approval and reject rows sourced from the mine-plan/inventory table. \| QA approve (t119v): source-table reconciled; printed values, basis and vintage verified \| t119v Copies a pre-filled issue record so you can send it through your normal channel.

Western Hub

Total Resources

47.00 Mt

64.72%

30.42 Mt Fe

30 June 2025

page 51Unverified

notes (4)

Source: Fortescue FY25 Annual Report and Appendix 4E (Ore Reserves and Mineral Resources chapter) · published 26 Aug 2025

Ref: page 51

JORC 2012 — Reporting code of record: JORC 2012
Cutoff 57.50 % Fe — Cut-off grade assumption from the source statement.
inc — Stated Resources are inclusive of Reserves. Set Resources: Excl. Reserves to net them out.

QA notes:

QA WARN: area 'Western Hub' references sibling project 'western hub' stored from this same document — likely an umbrella/headline summary duplicate of that project's own rows; policy keeps the per-project rows. QA WARN: cross-category subtotal — this total_resource row on area 'Western Hub' equals the sum of the same area's measured+indicated+inferred leaves — a per-deposit M&I/P&P-style total (t24 LUN/LUG NI 43-101 class). Policy keeps category leaves + the whole-project Total; adjudicate per the per-property-totals precedent before approval.

Reserves

Area	Category	Tonnes (Mt)	Fe		As at	Source	Provenance
Area	Category	Tonnes (Mt)	Grade (% Fe)	Contained (Mt Fe)	As at	Source	Provenance
Total	Probable	196.00 Mt	58.00%	113.68 Mt Fe	30 June 2026	11Unverified Evidence record Blacksmith Probable · Fe · as at 2026-06-30 Reported figure Area Whole project Basis 100% Ore tonnes (t) 196000000.0000 Grade 58.0000 Contained (t Fe) 113680000.0000 Classification Reserve Source trail Blacksmith Project Mineral Resource and Ore Reserve Update 11 Published 2026-08-20 Verification Approved; not independently verified · Model extracted QA WARN: document contains mine-plan/LOM-inventory table vocabulary ('mining inventory') — such tables print production-target inventory, NOT a Mineral Resource estimate, and their rows look clean at store time (t23 TGM class). Map each row to its source table before approval and reject rows sourced from the mine-plan/inventory table. \| QA approve (t119v): source-table reconciled; printed values, basis and vintage verified \| t119v Copies a pre-filled issue record so you can send it through your normal channel.	notes (4) Source: Blacksmith Project Mineral Resource and Ore Reserve Update · published 20 Aug 2026 Ref: 11 JORC 2012 — Reporting code of record: JORC 2012 QA notes: QA WARN: document contains mine-plan/LOM-inventory table vocabulary ('mining inventory') — such tables print production-target inventory, NOT a Mineral Resource estimate, and their rows look clean at store time (t23 TGM class). Map each row to its source table before approval and reject rows sourced from the mine-plan/inventory table. QA approve (t119v): source-table reconciled; printed values, basis and vintage verified t119v
Total	Total Reserves	196.00 Mt	58.00%	113.68 Mt Fe	30 June 2026	11Unverified Evidence record Blacksmith Total Reserve · Fe · as at 2026-06-30 Reported figure Area Whole project Basis 100% Ore tonnes (t) 196000000.0000 Grade 58.0000 Contained (t Fe) 113680000.0000 Classification Reserve Source trail Blacksmith Project Mineral Resource and Ore Reserve Update 11 Published 2026-08-20 Verification Approved; not independently verified · Model extracted QA WARN: document contains mine-plan/LOM-inventory table vocabulary ('mining inventory') — such tables print production-target inventory, NOT a Mineral Resource estimate, and their rows look clean at store time (t23 TGM class). Map each row to its source table before approval and reject rows sourced from the mine-plan/inventory table. \| QA approve (t119v): source-table reconciled; printed values, basis and vintage verified \| t119v Copies a pre-filled issue record so you can send it through your normal channel.	notes (4) Source: Blacksmith Project Mineral Resource and Ore Reserve Update