AAP, The West Australian
July 23, 2013, 9:28 am
The West Australian ©
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Iron ore miner Fortescue Metals Group has posted a 41 per cent jump in annual shipments.
Fortescue said it shipped almost 81 million tonnes of iron ore during the 2012/13 financial year, up 41 per cent on the previous year.
The company shipped 25 million tonnes in the June quarter, up 24 per cent compared to the previous three-month period.
Fortescue Metals Group said it recieved an average sale price of $US113 a tonne during the June quarter, thanks to continuing demand from China.
It said steel production in China remained around record levels, with 64.7 million tonnes produced there in June.
"These high levels of steel production, improving steel prices and the current low level of iron ore inventory in the system have resulted in recent iron ore re-stocking," the company said in a statement.
The company said it did not pay any Mineral Resources Rent Tax during the financial year.
FMG shares were off half a cent to $3.675 at 9.25am.
More to come…
production report, page-13
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