Fortescue iron ore shipments fall 9pc

Fortescue iron ore shipments fall 9pcFortescue Metals has reported a 9 per cent immerse in iron ore shipments for its September quarter, featuring the drop to protection closures and a surging Australian dollar.

The miner declares that it dispatched 10.08 million tonnes of iron ore from Western Australia's Pilbara region throughout July 1 and September 30, a slight decrease from the 11.04 million tonnes shipped in the June quarter.

Fortescue held that a stronger Australian dollar united with scheduled maintenance work put upward pressure on production costs.

In comparison to the previous quarter the total costs increased to $US 2.58

Fortescue says even though iron ore shipments minimized this quarter; they were still higher than what the company had projected.

In a statement the miner alleged that the Fortescue shipped product’s quarterly result of 10.1 million tonnes and it was above guidance of 9.5 million tonnes and was accomplished regardless of a number of scheduled major maintenance shuts at the port and the mine's Ore Processing Facility (OPF).