Australian iron ore miner Fortescue Metals Group has announced that its iron ore shipments in the quarter ended September 30 totaled 43.8 million mt, increasing by five percent year on year and registering an increase of one percent from the previous quarter.
According to Fortescue, during the September quarter it mined 49.5 million mt of iron ore, four percent more than the previous quarter and up 10 percent year on year.
In the given quarter, Fortescue’s cash production costs decreased by five percent compared to the previous quarter and by 20 percent year on year to $13.55/wet metric ton, generating continued strong cash margins.