Original article by Peter Ker
The Australian Financial Review – Page: 17 & 22 : 28-Jul-16

Fortescue Metals Group’s iron ore production cost fell to $US13.10 per tonne in June 2016, and averaged $US14.31/tonne during the June quarter. Fortescue expects its C1 production costs to be within the range of $US12 to $US13/tonne in 2016-17, and the group expects its iron ore shipments to be between 165 million and 170 million tonnes for the year. Fortescue has significantly reduced its production costs in recent years, with unit costs averaging $US34.03 per tonne in 2014. Fortescue shares rose $A0.29 to $A4.41 on 27 July.

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