Iron ore giant Fortescue Metals Group expects full year shipments to come in at the upper end of its guidance range after a 9 per cent rise in its second quarter iron ore shipments.
The company shipped 46.4 million tonnes in its second quarter, up nine per cent on the same quarter last financial year, lifting its first half shipments to a record 88.6mt.
Fortescue chief executive Elizabeth Gaines said the team had made multiple records across their operations, including record shipments of 88.6mt during the first half of FY20.
“Based on Fortescue’s strong performance in the first half, we expect shipments to be at the upper end of our guided range of 170 – 175m,” she said about the full year.
AAP
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