FMG ships 46 mln t of iron ore in Jan-Mar, flat on year

Fortescue Metals Group (FMG), the world's fourth-largest iron ore miner, shipped 46.3 million wet tonnes of iron ore over January-March of this year, with strong operating performance in its mining, processing, rail and shipping. Though the tonnage was down by 6% on quarter, it remained generally flat on year, according to its latest quarterly report released on April 24.

The volume over January-March contributed to the record shipments for the first nine months of the 2023 fiscal year (July 2022-July 2023) at 143.1 million wet tonnes, being 3% higher on year, according to the company release. Meanwhile, FMG maintained its iron ore shipment guidance for FY'23 unchanged at 187-192 million