Fortescue makes strides in achieving targets
PERTH (miningweekly.com) – Iron-ore major Fortescue Metals on Friday told shareholders that it was well on its way to achieving its shipping target of between 155-million and 160-million tonnes of iron-ore for the full 2015, after maintaining a strong operational performance in October.
During the month, Fortescue delivered 14.4-million tonnes of iron-ore, at an annualised rate of 172-million tonnes a year, and a C1 cost of $29/t.
“Our consistent excellent performance is a testament to Fortescue’s dedication to increasing productivity and reducing cost and has reinforced our position as a world-class, low-cost producer of iron-ore,” said CEO Nev Power.
Power said that the company remained focused on delivering additional efficiencies throughout its entire operations, with the company also continuing is strategy of debt reduction as it moved towards an initial targeted gearing level of 40%.
“At Fortescue, we concentrate on things we can control and that means innovating and finding efficiencies in our operations as part of our hardwired culture of reducing costs and delivering the high volume of low-cost ore demanded by our customers,” he added.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation