Fortescue Bucks Australia, time to publish Higher Iron Mineral Shipments

(Reuters) – The Australian miner Fortescue published on Thursday the Iron Mineral Shipments of the highest third quarter in line with the expectations of the analysts, as the production was recovered from a train defeat the same quarter a year earlier.

Iron mineral producer, chaired by a billionaire founder Andrew Forrest, published quarterly 46.1 -million metric tonnes (MT) quarterly shipments (MT), compared to 43.3 million MT reported a year earlier. This was largely in line with a visible estimate of alpha consensus of 46.8 million MT.

The rise in iron ore shipments comes despite heavy weather disruptions, including a five-day closure of the port of Port Hedland and the operating restrictions of the tropical zeal cyclone that resulted in a 7%quarter decrease.

The shares of the fourth iron iron miner in the world increased to 2.1% to a maximum of four weeks of $ 15.8, exceeding a 0.3% increase in the largest mining sector. Fortescue said he continues to review the timeline of his iron bridge operations to achieve the full production capacity of 22 million MT per year, with an evaluation of the key processing teams that are expected to be completed until June.

For its green energy division, Fortescue is evaluating the deadlines for the development of its Arizona project in the United States and its Gladstone PEM50 project, based in Queensland, with “greater clarity” on external factors that affect these projects planned in June.

The company maintained its 2025 190 million MT iron ore fiscal orientation, including 5 million MT for Iron Bridge 100%. The expected capital expense of 2025 of $ 3.5 to $ 3.8 billion is also unchanged.

Fortescue delivered his first electricity system T 264 to the Liebherr Mining Manufacturer during the quarter. The system is designed to convert diesel mining trucks into zero emission vehicles as part of the company’s decarbonization efforts.

(Rushni Nair and Adwitiya Srivastava in Bengaluru, Melanie Burton in Sydney; Shailesh Kuber edition and Rashmi Aich)