Australia’s third largest producer Fortescue Metals Group (FMG) said the volumes were up 7% on the previous quarter and 60% higher compared to a year ago.
Fortescue Metals Group (FMG) chief executive Nev Power said
“This has been a quarter of outstanding production and fiscal discipline that has delivered our eighth consecutive record quarterly shipping performance,” Fortescue Metals Group (FMG) said Chinese steel production remains strong with the decline in construction activity being offset by an increase in steel exports, which are on target to reach 75-80mt in 2014.
Fortescue Metals Group (FMG) said it is on track for production guidance of 155mt to 160mt for the current financial year.
Fortescue Metals Group (FMG) rivals are BHP Billiton and Rio Tinto.
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