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Fortescue quarterly iron ore shipments rise to 12.36 mln/t

Fortescue quarterly iron ore shipments rise to 12.36 mln/t

SYDNEY, Oct 17 (Reuters) – Australia’s Fortescue Metals Group said it increased total iron ore shipments in the September quarter to 12.36 million tonnes, versus 10.26 million tonnes in the same period a year ago.

Fortescue, Australia’s no. 3 iron ore miner after Rio Tinto

and BHP Billiton , also said it expects to maintain an annualised production run rate of 55 million tonnes and produce between 13.5 million and 14 million tonnes in the current quarter.

Fortescue sells most of its ore to steel mills in China and has been attempting to branch out to other countries in Asia and in Europe as it expands its mines in Australia.

(Reporting by James Regan; Editing by Ed Davies)

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