Photo by: Bloomberg
PERTH (miningweekly.com) – Iron-ore major Fortescue Metals has completed its $9.2-billion expansion to 155-million tonnes a year, with the miner achieving this production rate during the three months to March.
Fortescue on Wednesday announced record shipments of 31.5-million tonnes for the March quarter, lifting the year-to-date shipments to 85.4-million tonnes, a 53% increase over the previous corresponding period.
During the quarter, Fortescue mined 29.6-million tonnes, which was 8% lower than the previous quarter, as heavy rains impacted on the company’s operations in the Pilbara. However, total ore mined during the quarter was still 17% higher than the previous corresponding period.
The iron-ore miner completed the construction of its Kings Valley project during the quarter under review, which increased its total output from its processing facilities to a record 31.2-million tonnes, up 5% on the previous quarter and up 58% on the previous corresponding quarter.
The 40-million-tonne-a-year Kings Valley operation was the final piece of the 155-million-tonne-a-year puzzle.
During the three months to March, Fortescue also undertook operational responsibility for its Solomon Hub ore processing facilities, in recognition of the company’s need to develop in-house ore processing expertise.
The iron-ore major also completed the transition to full ownership and operational responsibility at the two Christmas Creek ore processing facilities.
Looking ahead, Fortescue expected to ship about 41.6-million tonnes of ore during the June quarter, to achieve a full-year target of 127-million tonnes.