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Fortescue Production Hit By Cyclone, Doubles Autonomous Haulage Fleet

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Australian iron ore miner Fortescue (ASX:FMG) says total ore shipped dropped 10% to 38.3 million tonnes in Q3 primarily due to Tropical Cyclone Veronica.

The company released its quarterly production report today./

“Closure of the Port Hedland Port, combined with localized flooding in the area caused by Tropical Cyclone Veronica in late March, resulted in the loss of five days of shipments,” said the company in a news release.

Fortescue says iron ore demand is strong. Referencing China’s National Bureau of Statistics, Chinese crude steel production is expected to remain robust and will reach 231 million tonnes in the first quarter of 2019, an increase of 9.9% year-on-year.

At Fortescue’s Christmas Creek operation in Western Australia, the company converted 55 trucks to autonomous haulage for a total fleet of 112. The company is also undertaking a light vehicle trial at the mine.

Fortescue kicked off a mobility center in Karratha, Western Australia “. . . to advance application of autonomous mobility technology in an urban environment.”

Written with material from Fortescue news release. Creative Commons image of Port Hedland courtesy of Paul Hood.
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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