Australian iron ore miner Fortescue Metals Group has announced that its iron ore shipments in the second quarter ending December 31 of the financial year 2014-15 totaled 41.1 million mt, increasing by 47 percent year on year and indicating a decline of one percent over the previous quarter.
According to Fortescue, during the December quarter it mined 43.6 million mt of iron ore, two percent higher than the previous quarter and up 36 percent year on year. An overall reduction in the total material mined during the quarter contributed to a reduction in mining costs.
The company stated that its production and shipping guidance of between 155 million mt to 160 million mt for the full financial year is maintained and is supported by the strong first half performance leading into the wet season.