Rain ham­pers pro­duc­tion

Townsville Bulletin - - Investor -

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.

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