Fortescue Metals Group Limited
(ASX:FMG) has increased its output and lowered its costs in the third quarter of the 2015 financial year.
The iron ore miner’s production rose 1 per cent to 37 million tonnes and quarterly cash costs dropped 9 per cent to $US25.90 per tonne.
Fortescue shipped 40.4 million tonnes of iron ore over the three month for an average price of $US48 per tonne.
CEO Nev Power has described the operational result as strong and highlighted the company’s pursuit of sustainable cost reductions.
Fortescue Metals Group reported a net profit of $403.56 million in the first half of the 2015 financial year.
