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BRIEF-Fortescue Metals Group Says Qtrly Ore Mined At 48 MT

Published 18/04/2019, 09:05 am
BRIEF-Fortescue Metals Group Says Qtrly Ore Mined At 48 MT
FMG
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April 18 (Reuters) - Fortescue Metals Group Ltd FMG.AX :

* FY19 GUIDANCE 165-170MT IN SHIPMENTS, INCLUSIVE OF WEST PILBARA FINES PRODUCT OF 8-10MT.

* FY19 GUIDANCE C1 COSTS EXPECTED TO BE BETWEEN US$13-13.50/WMT.

* FY19 GUIDANCE TOTAL CAPITAL EXPENDITURE OF US$1.2 BILLION, INCLUSIVE OF FORTESCUE'S SHARE OF IRON BRIDGE MAGNETITE PROJECT FOR FY19.

* QTRLY ORE MINED 48.0 MT VERSUS 41.6 MT A YEAR AGO

* QTRLY TOTAL ORE SHIPPED 38.3 MT VERSUS 38.7 MT A YEAR AGO

* QTRLY C1 COSTS US$ 13.51 /WMT VERSUS US$13.14/WMT IN PRIOR QUARTER

* LONG TERM CONTRACTS FOR OFF-TAKE OF 60.1% IRON GRADE WEST PILBARA FINES PRODUCT NOW FINALISED WITH NINE CUSTOMERS

* IRON BRIDGE PRODUCT WILL INCREASE AVERAGE GRADE

* QTRLY AVERAGE PRICE RECEIVED INCREASED TO US$71 PER DRY METRIC TONNE (DMT) VERSUS DECEMBER QUARTER OF US$48/DMT

* CLOSURE OF PORT HEDLAND PORT, FLOODING CAUSED BY CYCLONE RESULTED IN LOSS OF 5 DAYS OF SHIPMENTS EQUATING TO 2.5MT

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