Australian iron ore miner Fortescue Metals Group has announced its operational results for the second quarter and first half ended December 31 of the financial year 2023-24.
In the second quarter, the company’s iron ore shipments rose by 5.8 percent compared to the first quarter and fell by 1.6 percent on year-on-year basis to 48.6 million mt. During the December quarter, it mined 55 million mt of iron ore, falling by 2.1 percent from the previous quarter and down by 8.3 percent from the same period of the previous financial year.
In the first half, Fortescue’s iron ore shipments decreased by two percent year on year to 94.6 million mt, the second-highest first half shipments in the company’s history. The company’s iron ore shipments in the first half of the previous financial year were a record for a half year, as SteelOrbis previously reported.
Fortescue’s iron ore shipment guidance for the financial year 2023-24 stands at 192-197 million mt, including 2-4 million mt from Iron Bridge.
