MINING company Fortescue Metals Group has reported record shipments of iron ore during the 2020 financial year March quarter, defying any possible impact from coronavirus.
In figures released this week, FMG reported shipping 42.3m tonnes of iron ore, 10% higher than the corresponding quarter in 2019.
“Fortescue’s strong operating performance in the March quarter has delivered record shipments,” said chief executive Elizabeth Gaines.
“This result underpins an upgrade to our full year guidance for shipments.”
Ms Gaines indicated she was positive about the China, with that nation being the primary importer of Australian iron ore.
“Fortescue is a core supplier of iron ore to China and we see strong ongoing demand for our products and anticipate a steady recovery in economic activity in that market,” she said.
“While the global economic outlook remains uncertain, our balance sheet has never been stronger and we continue to generate sustained cashflows and jobs, invest in growth and focus on delivering returns to our shareholders.”
Ms Gaines also talked about health and safety saying “we have been responsive to the unprecedented global COVID-19 health pandemic and economic crisis”.
“We are committed to ensuring robust plans are implemented to prevent the spread of infection to any of our sites,” she said.