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Fortesque cuts iron ore production costs by 24% in Q1

Friday, October 16, 2015 - 05:50
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Fortesque Metals Group, the fourth-biggest iron ore exporter, cut first-quarter production costs by 24 per cent and trimmed debt, bolstering its balance sheet with prices forecast to extend declines.

Sydney

FORTESCUE Metals Group, the fourth-biggest iron ore exporter, cut first-quarter production costs by 24 per cent and trimmed debt, bolstering its balance sheet with prices forecast to extend declines.

Cash costs averaged US$16.90 a wet tonne in the three months ended Sept 30

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