Australia’s Fortescue Metals Group, the world’s fourth largest iron ore miner, said its production was strong in its fiscal Q1 of 2011-12.
More than 12Mt of iron ore was shipped during the three months ending September 30.
Fortescue said the shipments, which included third-party shipments, were the highest quarterly level achieved by the company.
Fortescue also transports and ships ore mined by BC Iron, which has a 50% stake in Fortescue’s Nullagine joint venture mine.
The company said it is still selling all of its production with no cancellation or deferral of cargoes, and its sales price averaged $US160/t, ‘subject to final adjustments’ for its most recent shipments