On October 17, Australia's third-biggest iron ore producer Fortescue Metals Group Ltd (Fortescue) announced its report for the first quarter ending on September 30.
Fortescue said in its statement that its total iron ore shipments during the September quarter increased by 20.6 percent to 12.16 million mt compared to the same quarter of the previous year. In the quarter ended September 30, Fortescue's total processed iron ore volume increased to 12.7 million mt, up by 30.4 percent compared to the previous year.
According to Fortescue's statement, production costs for the quarter decreased to $49.78/mt down 6.5 percent compared to the previous three months.
Fortescue forecasts that its shipments in the December quarter will range from 13.4 million mt to 14 million mt.