Fortescue Posts Qtrly Iron Ore Shipments 49.4 MT
Jan 27 (Reuters) -Fortescue Metals Group Ltd FMG.AX:
QTRLY IRON ORE SHIPMENTS 49.4 MT VERSUS 47.5 MT REPORTED LAST YEAR
GUIDANCE FOR FY23 C1 COST AND CAPITAL EXPENDITURE REMAIN UNCHANGED
QTRLY ORE MINED 60.0 MT VERSUS 57.2 MT
QTRLY ORE PROCESSED 50.0 MT VERSUS 49.2 MT
QTRLY AVERAGE REVENUE OF US$87/DRY METRIC TONNE REALISING 88% OF AVERAGE PLATTS 62% CFR INDEX FOR QUARTER
QTRLY C1 COST OF US$17.17/WET METRIC TONNE (WMT), 3% LOWER THAN PREVIOUS QUARTER
IRON BRIDGE MAGNETITE PROJECT FIRST PRODUCTION SCHEDULED FOR END OF MARCH 2023 QUARTER
IRON BRIDGE MAGNETITE PROJECT WILL DELIVER 22MT PER ANNUM OF HIGH GRADE 67% FE MAGNETITE CONCENTRATE
IRON BRIDGE MAGNETITE PROJECT CAPITAL ESTIMATE IS US$3.6 - US$3.8 BILLION
GUIDANCE FOR FY23 SHIPMENTS IS MAINTAINED INCLUSIVE OF IRON BRIDGE SHIPMENTS OF LESS THAN 1MT
FIRST MANUFACTURING FACILITY IN KIDLINGTON WILL BE COMMISSIONED IN APRIL
IRON BRIDGE PROJECT CAPITAL EXPECTED TO BE AT TOP END OF RANGE
DELIVERY AGAINST FORTESCUE'S PLAN TO STEP BEYOND FOSSIL FUELS IS ON-SCHEDULE
INITIAL DRILLING PROGRAM AT BELINGA IRON ORE PROJECT IN GABON PLANNED TO COMMENCE IN MARCH 2023
Source text for Eikon: ID:nASXbsKY1k
Further company coverage: FMG.AX
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
