Fortescue has released its June 2019 quarterly production...

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