Fortescue Metals Group on Thursday forecast higher iron ore shipments for fiscal 2024, encouraged by strength across its key operations in Western Australia.
The world’s fourth-largest iron ore miner expects to ship between 192 million metric tonnes (Mt) and 197 Mt of the steel-making commodity in the year, up from 192 Mt shipped in fiscal 2023.
That compares with a Goldman Sachs estimate of 199 Mt.
“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,” Fortescue Metals CEO Fiona Hick said.
Fortescue shipped 48.9 Mt of ore in the June quarter, marginally lower than 49.5 Mt a year earlier.
Source: Hellenic Shipping News
