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
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