By Rhiannon Hoyle SYDNEY Fortescue Metals Group Ltd. said it shipped record annual volumes of iron ore as it benefited from sky-high prices for the steel ingredient, but that it continued to face pressure from rising costs. Fortescue, the world s No. 4 iron-ore exporter, reported shipments of 182.2 million metric tons for the 12 months through June, up 2% on a year earlier. That followed fourth-quarter shipments of 49.3 million tons, which were 4% higher on a year ago and also a record level for Fortescue. This was an outstanding performance despite the impact of wet weather, as well as Covid-19 restrictions requiring many of our team members to remain on site for extended periods during WA s lockdowns, Chief Executive Elizabeth Gaines said, referring to pandemic-related restrictions in Western Australia state where Fortescue s iron-ore mines are located.
By Rhiannon Hoyle SYDNEY Fortescue Metals Group Ltd. said its chief operating officer would resign immediately, along with another executive and the director of its Iron Bridge project. . | February 20, 2021