Australian miner Fortescue (ASX: FMG) posted a 5% rise in third-quarter iron ore shipments on Friday, driven by strong performance of its hematite operations and higher contribution from the Iron Bridge project.
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The world’s fourth-largest iron ore miner shipped 48.4 million metric tons (Mt) of iron ore in the three months ended March 31, compared with 46.1 Mt reported a year earlier.
That missed a Visible Alpha consensus estimate of 48.6 Mt.
(Reporting by Sneha Kumar and Sherin Sunny in Bengaluru; Editing by Vijay Kishore)
