Fortescue's December qtr iron ore output up nearly a third
Reuters: Sydney, Jan 24 2013, 11:45 IST
company was producing at the annualized rate of just over 100 million tonnes.
Fortescue, which sells its ore at a roughly 12 percent discount to the benchmark spot price said its cash mining costs rose to an average $50.48 per tonne in the December quarter from $46.35 in the same period a year ago as higher cost inventories flowed through and the Australian dollar held strong.
Fortescue shares slipped 0.5 percent, underperforming a slight rise in the broader index.
Earlier this week, BHP, the world's biggest mining company, boosted its iron ore output by 3 percent in the December quarter, while Rio Tinto recorded a 6 percent lift.
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