Rain hampers production
FORTESCUE Metals Group Ltd has flagged a rise in operating costs for the March quarter due to heavy rains that hampered production. Fortescue is running behind its usual 40 million tonnes per annum ( Mtpa) rate due to wet weather in Western Australia’s Pilbara region. The heavy rain recently prompted Fortescue to advise its March quarter production would be in the range of 8.5 million to 9.0 million tonnes. Chief operating officer Neville Power told a conference in Perth this week that March quarter production would be down to 8.25 million tonnes.