FMG hits shipping target for 2008

08/01/2009 - 13:56

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Fortescue Metals Group has reached its targeted 15 million tonne shipment for 2008 while it was 1 per cent shy of its mining goal at its Cloudbreak mine in the Pilbara.

FMG hits shipping target for 2008

Fortescue Metals Group has reached its targeted 15 million tonne shipment for 2008 while it was 1 per cent shy of its mining goal at its Cloudbreak mine in the Pilbara.

The iron ore miner said it shipped its 15 millionth tonne on the MV Mystic vessel, which departed the Herb Elliot Port in Port Hedland at the start of this week.

The company started shipments in May last year, and has also shipped 60,000 tonnes for Atlas Iron in December.

"We are continuing to finetune our operations and will increase mine, rail and port tonnage through 2009," executive director operations Graeme Rowley said.

"Commissioning of the company's desand plant at the Cloudbreak mine site is proceeding as planned, which will ensure Fortescue's ore specification in quality and quantity is maintained."

The company also mined 19.5mt at Cloudbreak, just short of its 20mt target it set in November.

FMG plans to ramp up to 55mt per annum over the course of this calendar year.

Shares in FMG were down 21 cents to $2.06 at 15:48 AEDT.

 

 

The announcement is below:

 

 

Fortescue Metals Group ("ASX:FMG" "Fortescue") has shipped its 15 millionth tonne of iron ore through the Herb Elliott Port in Port Hedland, marking another milestone for the company.

"The mine, rail and port operations teams worked hard throughout 2008 to achieve the 15 million tonne (mt) milestone as the company continues to ramp-up its operations," Fortescue Executive Director Operations Graeme
Rowley said.

"In December we shipped 2.6mt which is the highest monthly rate achieved to date. The fourth quarter result was 6.3mt shipped, noting that this period included a 10 day port shut down to commission the second wharf. In addition, the tonnes mined at Cloudbreak during 2008 totalled 19.5mt, just 1% shy of our target."

"Credit must go to all of our staff for their achievements. Establishing and operating a large greenfields operation is very challenging and Fortescue's positive culture has been instrumental in overcoming the hurdles that invariably occur in getting a project of this size up and running."

The Capesize vessel MV Mystic departed Port Hedland on January 5, 2009 with the 15 millionth tonne on board. Fortescue exported more than 14.8mt of high quality iron ore in 2008, after loading its First Ore On Ship on May 15, 2008. Fortescue also shipped 60,000 tonnes for Atlas Iron in December, which marked the historic first shipment of iron ore by a third party from a Pilbara port.

"We are continuing to finetune our operations and will increase mine, rail and port tonnage through 2009. Commissioning of the company's desand plant at the Cloudbreak mine site is proceeding as planned, which will ensure Fortescue's ore specification in quality and quantity is maintained," Mr Rowley said.

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