Fortescue Metals Group Ltd
(ASX:FMG) has released its September quarter production results.
The company reported shipments of 43.8 million tonnes of iron ore – which it says is consistent with guidance and prior performance.
Fortescue also says cash production costs improved to US$13.55 per wet metric tonne. This is 5% lower than the June quarter figure, and 20% lower compared to the same period last year.
During the quarter, the company repaid US$700 million in debt, so its net debt is now US$4.2 billion.
Fortescue posted a net profit of $1.3 billion at 30 June 2016.
