FMG budget swells

FORTESCUE Metals Group has flagged a $US600 million ($A585.8 million) increase in expansion costs as a record quarter of shipments took the company to an annualised run-rate of 71 million tonnes per annum.

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Shipments for the June quarter were 17.8 million tonnes, up 42% over the rain-affected March quarter.

The company also lowered C1 costs by 12% to $46.