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FMG: Iron Ore Shipments in Q4’FY’18 Hit record high at 46.5 MnT

FMG depicted strong quarterly shipments in last quarter FY’18 at 46.5 MnT, highest since inception. The shipments depicted increase of 20% Q-o-Q as against 38.7 MnT in Q3 FY’18. However, on yearly basis it witnessed slight increase compared to 44.7 MnT in Q4 FY’17.

Iron Ore production up 20% Q-o-Q

The mined ore production for the quarter ended June`18 recorded at 49.8 MnT, up 20% Q-o-Q as against 41.6 MnT in Q3 FY`18.
On yearly basis, production volume decreased by 7% in Q4 FY`18 as against 53.5 MnT in Q4 FY17.

Shipments to Non-Chinese market doubled in FY’18:

The Company accounted for 8% of total FY’18 shipments to non Chinese markets at 13.2 MnT, almost twice against FY’17 shipments. The company accounted for 9% of total Q4 FY’18 shipments to non Chinese markets at around 4.2 MnT.

Recent Updates

FY’19 guidance: FMG FY’19 shipment guidance has been laid between 165-173 MnT

Approval at Eliwana and Rail project: The project approves the introduction of Fe 60% grade products and development of about 163 km of railway. The first ore is expected to be delivered in Dec 2020. The project bears a capacity of upto 50 MnT

Autonomous Haulage (AHS): FMG focuses on driverless trucks to cut costs. The company is heading towards conversion of over 100 trucks to AHS at Chichester Hub, with 19 trucks already put to operation.