{"id":1181697,"date":"2020-04-30T15:23:00","date_gmt":"2020-04-30T20:23:00","guid":{"rendered":"https:\/\/www.mining.com\/?p=1022346"},"modified":"2020-04-30T15:23:00","modified_gmt":"2020-04-30T20:23:00","slug":"fortescue-posts-10-rise-in-q3-iron-ore-output","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1181697","title":{"rendered":"Fortescue posts 10% rise in Q3 iron ore output"},"content":{"rendered":"<p>Fortescue Metals ASX: (FMG) has <a rel=\"noreferrer noopener\" aria-label=\"upgraded its guidance (opens in a new tab)\" href=\"https:\/\/www.fmgl.com.au\/docs\/default-source\/announcements\/quarterly-production-report-march-2020.pdf\" >upgraded its guidance<\/a> for 2020 iron ore shipments to 175-177 million tonnes, based on strong operating performance year-to-date. <\/p>\n<div class='d-flex justify-content-center d-xs-block d-sm-block d-md-none'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<p>The company reported third-quarter iron ore shipments of 42.3 million tonnes, 10% higher than 38.3 million tonnes a year earlier. Year-to-date shipments are at 130.9 million tonnes.<\/p>\n<figure class=\"wp-block-pullquote alignright\">\n<blockquote>\n<p> &#8220;While the global economic outlook remains uncertain, our balance sheet has never been stronger&#8221;<\/p>\n<p><cite> Fortescue CEO Elizabeth Gaines<\/cite><\/p><\/blockquote>\n<\/figure>\n<p>\u201cFortescue is a core supplier of iron ore to China and we see strong ongoing demand for our products and anticipate a steady recovery in economic activity in that market.&#8221; Fortescue CEO Elizabeth Gaines said.<\/p>\n<p>&#8220;While the global economic outlook remains uncertain, our balance sheet has never been stronger and we continue to generate sustained cashflows and jobs, invest in growth and focus on delivering returns to our shareholders,\u201d she said. <\/p>\n<p>The $2.6 billion Iron Bridge Magnetite project in Pilbara region of Western Australia <a rel=\"noreferrer noopener\" aria-label=\"is progressing on schedule and budget (opens in a new tab)\" href=\"https:\/\/www.mining.com\/fortescue-oks-2-6b-expansion-iron-bridge-magnetite-project\/\" >is progressing on schedule and budget<\/a>, with first concentrate production planned in the first half of 2022.<\/p>\n<p>The Eliwana mine and rail project in Western Australia achieved key milestones in the quarter, including the completion of earthworks on stage one of the railway in preparation for first track laying. Pre-strip mining is scheduled to begin in Q1 2021.  <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Company upgraded its guidance for 2020 shipments to 175-177 million tonnes based on strong operating performance.<\/p>\n","protected":false},"author":110,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[369,2640],"tags":[],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1181697"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/110"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1181697"}],"version-history":[{"count":2,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1181697\/revisions"}],"predecessor-version":[{"id":1181702,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1181697\/revisions\/1181702"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1181697"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1181697"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1181697"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}