FMG lowers cash costs further in October-December

Fortescue Metals Group (FMG) has again lowered its cash production costs (C1), while keeping its shipments in line with its previous guidance, in the last three months of 2016.

The miner reported a C1 cost of $12.54 per wet metric tonne (wmt) for the December quarter, down 21% from a year earlier and 7% lower than that in the preceding quarter, according to its latest production report published on Tuesday January 31.

FMG ceo Nev Power said the miner’s lowered C1 costs for a twelfth...

Published

Sophie Zhao

January 31, 2017

04:49 GMT

Singapore