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Fortescue on Wednesday logged a 6% decline in third-quarter iron ore shipments, impacted by derailment of ore cars and weather disruptions. The company, in early January confirmed that multiple iron ore cars had been derailed on Dec.
30 from its tracks at its Western Australia operations, and had started an investigation into the matter. The world’s fourth-largest iron ore miner said it shipped 43.3 million tonnes of the steel-making commodity in the three months ended March 31, compared with 46.3 million tonnes a year earlier.Fortescue said it expects its fiscal year 2024 shipment at the lower end of its 192 – 197Mt forecast, citing weather impacts during the quarter and the derailment.Iron ore price slides to nearly one-week low on subdued Chinese steel marketCSA, acquired from Glencore, is one of Australia’s longest operating copper mines with a history stretching back almost 150 years.It produced 11% more copper in the first quarter, but its diamond unit De Beers saw output drop by 23% on high inventories.
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