FMG faces cost creep

FORTESCUE Metals Group has ended its trend of quarter-after-quarter cost reductions with March quarter costs coming in well above full-year guidance.

FMG faces cost creep FMG faces cost creep FMG faces cost creep FMG faces cost creep FMG faces cost creep

FMG COO Greg Lilleyman, deputy CEO Julie Shuttleworth, CEO Elizabeth Gaines and CFO Ian Wells

Tonnes shipped dropped by 4% to 38.7 million tonnes, in line with analyst forecasts, but C1 costs increased to US$13.14 per wet metric tonne.