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FMG shares at 18-month high after strong quarter

FORTESCUE Metals Group’s iron ore business is now operating at an annualised run-rate of 200 million tonnes per annum, even before the 22Mtpa Iron Bridge magnetite project has been commissioned.

FMG founder and chairman Andrew Forrest

FMG founder and chairman Andrew Forrest

The iron ore miner reported best-ever December quarter shipments of 49.4 million tonnes, up 4% both quarter-on-quarter and year-on-year. C1 cash costs fell 3% to US$17.17 per wet metric tonne, driven...

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