Australia's third-biggest iron ore producer Fortescue Metals Group Ltd (Fortescue) has announced its operating results for the third quarter of 2012.
Fortescue said in its statement that its total iron ore shipments during the September quarter increased by 30 percent year on year to 16.1 million mt. In the given quarter, Fortescue's total processed iron ore volume increased to 15.8 million mt, up by 24 percent compared to the same quarter of the previous year.
According to Fortescue's statement, production costs for the quarter increased to $49.44/mt from $46.04/mt in the previous quarter.
Following commissioning of the second train unloader and the second Christmas Creek ore processing facility, a substantial ramp up of production is expected through the December quarter of the current year. The company also stated that it remains committed to completing its Kings iron ore project and capacity expansion to 155 million mt per year.