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Fortescue Metals Group Provides December 2019 Quarterly Production Report

30 Jan 2020  |  08:59:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: December 2019 Quarterly Production Report

Fortescue Metals Group released its December 2019 quarterly production results, reporting shipments of 46.4 Mt and cash production costs (C1) of US$12.54 per wet metric tonne (wmt) for the quarter. The Total Recordable Injury Frequency Rate (TRIFR) reduced to 2.5 on a rolling 12-month basis during the first half of FY 2020. C1 costs of US$12.54/wmt reduced by three per cent compared to US$12.95/wmt in Q1 FY 2020 reflecting strong mining and processing performance and sustained cost management. Sustained steel demand and low steel inventory contributed to higher steel margins in the quarter.

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