FMG iron ore shipment down 6% in Q1 on weather issues

Fortescue Metals Group (FMG) posted a 6% drop in its iron ore sales and a 4% rise in cash production costs (C1) during January-March due to the impact of heavy rainfall.

The miner shipped 39.6 million tonnes of iron ore in the March quarter, compared with 42 million tonnes a year earlier and 42.2 million tonnes in the preceding quarter, it said on Thursday April 13.

Its C1 cost increased 4% to $13.06 per wet metric tonne (wmt) in the three months from $12.54 per wmt during...

Published

July Zhang

April 13, 2017

05:33 GMT

Shanghai