FMG announced its quarterly production report

Fortescue Metals Group Ltd (ASX: FMG) has released its quarter ended 31 March 2022 production report. The Company had record third quarter operating performance. It contributed to robust cashflow generation. The strong performance during the quarter was driven by successful delivery and ramp up of the Eliwana project. The result was also driven by execution of its integrated operations and marketing strategy, resulting in the upgrade to FY22 shipment guidance to 185mt - 188mt.

Some Key Highlights:

• The company made shipments of iron ore of 46.5 million tonnes during Q3 FY2022, which are 10% higher than its Q3 FY2021 shipments.
• FMG completed the offering of US$ 1.5 billion senior notes on 7 April 2022, including Fortescue’s inaugural US$800 million Green Senior Note issue.
• Fortescue has acquired Williams Advanced Engineering for US$221 million and announced the zero-emission Infinity Train development.
• It has upgraded its guidance for iron ore shipments of 185 – 188 MT (previously 180-185 MT).
• Fortescue Future Industries began construction of the Green Energy Manufacturing Centre in Gladstone, Queensland.

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