Australian iron ore miner Fortescue Metals Group has announced that its iron ore shipments in the fourth quarter ended June 30 of the financial year 2015-16 totaled 43.4 million mt, increasing by three percent from the previous quarter and indicating a rise of two percent year on year.
According to Fortescue, during the June quarter it mined 47.8 million mt of iron ore, 10 percent higher than in the previous quarter. Total iron ore mined in the June quarter was 14 percent higher than in the corresponding period of the previous year.
Fortescue’s CEO Nev Power stated that costs have been lowered for the tenth consecutive quarter and the company’s focus on productivity and efficiency measures will drive costs even lower in the financial year 2016-17.
Fortescue has affirmed its financial year 2016-17 shipping guidance at 165-170 million mt.