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BRIEF-Fortescue Maintains FY21 Guidance For Shipments, C1 Cost & Capex

Published 28/01/2021, 09:45 am
FMG
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Jan 28 (Reuters) - Fortescue Metals Group Ltd FMG.AX :

* GUIDANCE FOR FY21 SHIPMENTS, C1 COST AND CAPITAL EXPENDITURE REMAINS UNCHANGED

* QTRLY TOTAL ORE SHIPPED 46.4 MT VERSUS 46.4 MT

* QTRLY ORE MINED 50.0 MT VERSUS 54.6 MT

* QTRLY ORE PROCESSED 44.2 MT VERSUS 46.2 MT

* QTRLY AVERAGE REVENUE OF US$122/DRY METRIC TONNE

* QTRLY C1 COSTS OF US$12.81/WET METRIC TONNE

* DRILLING ACTIVITY HAS RECOMMENCED IN ARGENTINA AND IS EXPECTED TO RESTART IN ECUADOR IN Q3 FY21, SUBJECT TO COVID-19 RESTRICTIONS

* WHIMS PLANT THROUGHPUT IS FORECAST TO RAMP UP TO ITS INSTALLED CAPACITY AND EXPECTED YIELD IN H2 FY21

* TOTAL INVESTMENT IN ELIWANA PROJECT EXPECTED TO BE ABOUT US$1.375 BLN

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