Fortescue lifts iron ore shipments
Market watch top headlines
Fortescue Metals Group has maintained its full year targets for iron ore production after lifting its shipments in the second quarter of the financial year.
Fortescue shipped 19.6 million tonnes of iron ore in the three months to December 31, up 22 per cent from the preceding three months and up 32 per cent on the same period in the previous year.
Higher shipments were a result of increased production from its processing facility at Christmas Creek and early mining activity at the Firetail deposit in its Solomon project, the company said on Thursday.
The Firetail mine is on schedule to deliver 20 million tonnes of ore per annum from March, increasing Fortescue's capacity to 115 million tonnes per annum, it said.
Production guidance for the 2012/13 financial year remains between 82 and 84 wet metric tonnes (wmt), Fortescue said.