Australian mining magnate Andrew "Twiggy" Forrest has slammed US President Donald Trump's moves against the global transition to renewable energy, as he recommits his company to stop using fossil fuels within years.

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Dr Forrest made the comments at Fortescue's annual general meeting in Perth on Friday, also saying the company had made mistakes in its efforts to decarbonise but would continue to experiment.

The announcements come after the Western Australian company revealed record iron ore shipments at its annual results in August, but posted a lower than usual $5.2 billion profit due to falling commodity prices.

Fortescue also withdrew from

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