Australian iron ore miner Fortescue Metals Group has delivered the best operational results among Australia’s three biggest iron ore producers, with record nine-month shipments and higher sales guidance for the whole fiscal.Its iron ore shipments in the third quarter ended March 31 of the financial year 2021-22 fell by 2% compared to the second quarter and were up by 10% YoY to 46.5 million tonne. During the March quarter it mined 51.6 million tonne of iron ore, falling by 10% QoQ & 4% YoY. Meanwhile, in the given period, the average price received was USD 100 per dry metric ton compared to the December quarter price of USD 74.36 per dry metric ton. The miner’s C1 cost increased by 3% to USD 15.78 per tonne from the previous quarter FMG CEO Ms Elizabeth Gaines said “This strong performance is underpinned by the successful delivery and ramp up of the Eliwana project, and execution of our integrated operations and marketing strategy.”In the first nine months of the financial year, the company's iron ore shipments increased by 4.9% YoY to 139.5 million tonne, a record for the first nine months.Fortescue’s iron ore shipment guidance for the financial year 2021-22 is at 185-188 million tonne, compared to the previous guidance of 180-185 million tonne. C1 cost guidance was raised to USD 15.75-16 per tonne from USD 15-15.5 per tonne due to market inflation across key input costs.
Australian iron ore miner Fortescue Metals Group has delivered the best operational results among Australia’s three biggest iron ore producers, with record nine-month shipments and higher sales guidance for the whole fiscal.Its iron ore shipments in the third quarter ended March 31 of the financial year 2021-22 fell by 2% compared to the second quarter and were up by 10% YoY to 46.5 million tonne. During the March quarter it mined 51.6 million tonne of iron ore, falling by 10% QoQ & 4% YoY. Meanwhile, in the given period, the average price received was USD 100 per dry metric ton compared to the December quarter price of USD 74.36 per dry metric ton. The miner’s C1 cost increased by 3% to USD 15.78 per tonne from the previous quarter FMG CEO Ms Elizabeth Gaines said “This strong performance is underpinned by the successful delivery and ramp up of the Eliwana project, and execution of our integrated operations and marketing strategy.”In the first nine months of the financial year, the company's iron ore shipments increased by 4.9% YoY to 139.5 million tonne, a record for the first nine months.Fortescue’s iron ore shipment guidance for the financial year 2021-22 is at 185-188 million tonne, compared to the previous guidance of 180-185 million tonne. C1 cost guidance was raised to USD 15.75-16 per tonne from USD 15-15.5 per tonne due to market inflation across key input costs.
