Australian iron ore miner Fortescue Metals Group has announced its operational results for the fourth quarter and the whole financial year ended June 30.
The company’s iron ore shipments in the fourth quarter fell by one percent on year-on-year basis and were up by six percent on quarter-on-quarter basis to 48.9 million mt. Meanwhile, the company mined 52.7 million mt of iron ore in the given period, rising by five percent from the previous quarter and down by 11 percent from the same period of the previous financial year.
In the financial year 2022-23, Fortescue’s iron ore shipments increased by two percent year on year to 192 million mt, achieving the top end of the market guidance. The company’s iron ore production decreased by five percent year on year to 217.9 million mt.
Fortescue’s iron ore shipment guidance for the financial year 2023-24 stands at 192-197 million mt, higher than the last financial year.
