Cyclones interrupt Fortescue iron ore production
Thursday, April 19, 2012/
Fortescue Metal (ASX: FMG) shipped 15% less iron ore in the March due to cyclones in Western Australia.
Total ore shipped for the quarter was 12.6 million tonnes, compared with 14.8 million tonnes in the December quarter, due to local flooding.
Two cyclones resulted in the closure of Port Hedland port and delayed ship loading for about eight days.
“It is expected that Fortescue will catch up on the delayed shipments through this current quarter,” Fortescue said.
Fortescue mined 13.6 million tonnes of iron ore in the three months to March 31 – down 15% on the December quarter.
Mining activities at Fortescue’s main Cloudbreak mine were hampered for about a fortnight by heavy rain from Cyclone Heidi.
The WA iron ore powerhouse is committed to an ongoing expansion of its mining operations, and has cash on hand of 3.2 billion after a successful capital-raising in the US in March.