Australian iron ore miner Fortescue Metals Group has announced that its iron ore shipments in the quarter ended December 31 totaled 42.2 million mt, remaining stable year on year and registering a decrease of four percent from the previous quarter.
According to Fortescue, during the December quarter it mined 50.1 million mt of iron ore, up one percent from the previous quarter and rising by 12 percent year on year.
Fortescue has reaffirmed its financial year 2016-17 shipping guidance at 165-170 million mt. In the December quarter, Fortescue’s cash production costs decreased by seven percent compared to the previous quarter and by 21 percent year on year to US$12.54/wet metric ton.