Fortescue Defies Disruptions with Record Quarterly Iron Ore Shipments

(Romero.my.id) - The Australian mining company Fortescue saw an increase in its third-quarter iron ore shipments, surpassing the figures from the same period last year which were affected by a train derailment.

Despite experiencing considerable weather-related interruptions during the third quarter, such as a five-day shutdown at the Port Hedland harbor, Fortescue—the globe’s fourth-largest iron ore producer—has seen an increase in its iron ore deliveries.

The company Fortescue, led by its billionaire founder Andrew Forrest who serves as chairman, announced quarterly iron ore shipments totaling 46.1 million metric tons, up from 43.3 million metric tons recorded in the previous year.

This was mostly consistent with a Visible Alpha consensus estimate of 46.8 mt.

(Reported by Roushni Nair and Adwitiya Srivastava in Bengaluru; Edited by Shailesh Kuber)