News: FMG Fortescue Metals Group Says Q4 Total Ore Shipped 46.6 MT, page-2

Fortescue has released its June 2019 quarterly production results, reporting record quarterly shipments of 46.6 million tonnes (mt) and cash production costs (C1) of US$12.78 per wet metric tonne (wmt).

QUARTERLY HIGHLIGHTS

• Safety TRIFR of 2.8, an improvement of 22 per cent compared to 31 March 2019 and a record annual result

• Record quarterly shipments of 46.6mt including 4.7mt of West Pilbara Fines

• FY19 shipments of 167.7mt, one per cent lower than FY18 due to the impact of Cyclone Veronica

• Average revenue received increased by 30 per cent to US$92 per dry metric tonne (dmt) compared

  to the March quarter of US$71/dmt

• C1 costs of US$12.78/wmt, five per cent lower than the March quarter (US$13.51/wmt)

• Payment of a fully franked A$0.60 per share dividend in June 2019, bringing total FY19 dividend

  payments to date to A$0.90 per share

• Official opening of the Judith Street Harbour in Port Hedland marking the completion of Fortescue’s

  towage infrastructure and fully integrated supply chain

• Approval of the US$287 million investment in the Queens Valley mining area development at the

  Solomon Hub

• Eliwana Mine and Rail and Iron Bridge Magnetite projects progressing on schedule and budget