ironore major FortescueNews has marked record shipments in the 2023 financial year mining resources results
PERTH – Iron-ore major Fortescue has reported record iron-ore shipments for the full year ended June following a strong June quarter.
Fortescue on Thursday reported average revenues of $96/t in the fourth quarter, realising 87% of the Platts 62% CRF index, with average revenue in the full year reaching $95/t. For 2024, Fortescue is anticipating shipments from Iron Bridge to reach seven-million tonnes, with the ramp-up to full production expected to take 24 months. Fortescue’s share of operating expenditure at Iron Bridge in the 2024 financial year is expected to be around $400-million.
“Building on another year of record performance, our guidance for 2024 is for total shipments in the range of 192-million to 197-million tonnes. Our hematite operations are performing strongly and we are focused on delivering growth through the safe and efficient ramp-up of Iron Bridge, unlocking the potential of Belinga and decarbonising our iron-ore operations.”
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