Fortescue March 2018 Quarterly Production Report | Finance News Network

Fortescue March 2018 Quarterly Production Report

Company News

by Anna Napoli

Fortescue Metals Group (ASX:FMG) has announced iron ore shipments of almost 39 million tones for the March 2018 quarter.

Ore mined for the quarter was down 7 per cent on the same time last year.

Meantime, total ore shipped was down 2 per cent on the prior corresponding period.

Despite the drop the company says shipments remain on target to achieve 170 milion tones for the 2018 financial year.

Fortescue says mining, processing and shipping was lower than the previous quarter due to cyclone activity impacting port operations and wet weather at its mines.

Shares in Fortescue (ASX:FMG) down 2.88 per cent to $4.54
 

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.