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FMG lifts FY21 iron ore shipment guidance to 178-182 mln t

ABSTRACT

Fortescue Metals Group (FMG), the world’s fourth largest iron ore miner with mining assets in Western Australia, has lifted its iron ore shipments guidance for FY21 (July 2020-June 2021) to 178-182 million wet tonnes from the original 175-180 million wet tonnes, even though its iron ore shipment over January-March was flat on year and reduced 9% on quarter, according to its latest quarterly report released on April 29.
In the quarter, or the third quarter of its FY21, FMG shipped 42.3 million wet tonnes of iron ore, and the on-quarter decline was mainly due to the significant rainfall across Pilbara, as its processed iron ore grew 5% on year or up 1% on quarter to 44.6 million tonnes, thanks to the commissioning

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