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 2017-18 totaled 46.5 million mt, rising by 20 percent compared to the previous quarter and up four percent from the same period of the previous financial year. Meanwhile, in the full financial year, the company’s iron ore shipments totaled 170 million mt.
According to Fortescue, during the June quarter it mined 49.8 million mt of iron ore, up 20 percent from the previous quarter and decreasing by seven percent year on year.
The company expects its iron ore shipments in the financial year 2018-19 to be around 165-173 million mt with a focus on optimizing margins and meeting market demand in product mix and volumes through fully integrated mining operation.