Flush Fortescue now close to net cash

Original article by Peter Ker
The Australian Financial Review – Page: 23 : 25-Oct-19

Pure-play iron ore miner Fortescue Metals Group has advised that its shipments totalled 42.2 million tonnes in the September quarter. Fortescue has maintained its full-year export guidance of 170-175 million tonnes. The company received an average price of $US85 per tonne during the quarter, which is 89 per cent higher than the previous corresponding period. Fortescue reduced its net debt to $US500m ($730m) during the quarter, while it has gross debt of $US3.9bn.

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG, MORGANS FINANCIAL LIMITED

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