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Mining News Pro - Fortescue Metals Group - world`s 4th largest iron ore producer, depicted total shipments at 169.7 MnT in FY18, in line with laid guidance of 170 MnT. However, the FY’18 shipments stood slightly down as against 170.4 MnT in same period last fiscal FY’17(July`16-June`17).
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.
Short Link:
https://www.miningnews.ir/En/News/223972
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