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 2021-22 rose by six percent compared to the third quarter to 49.5 million mt. In the full financial year, the company’s iron ore shipments increased by 3.7 percent year on year to 189.0 million mt, exceeding the full year guidance of 185-188 million mt.
According to Fortescue, during the June quarter it mined 59.2 million mt of iron ore, rising by 15 percent from the previous quarter and down by nine percent from the same period of the previous financial year. In the full financial year, the company mined 228.8 million mt of iron ore, increasing by 0.8 percent year on year.
Meanwhile, in the given period, the average price received increased to US$108 per dry metric ton (dmt) compared to the March quarter price of US$100/dmt.
Fortescue’s iron ore shipment guidance for the financial year 2022-23 stands at 187-192 million mt.