Fortescue Metals ASX FMGFortescue Metals (FMG) is an iron ore miner, with operations located in the lucrative Pilbara iron ore province in Western Australia.

FMG was one of the market’s hot shares last year when it doubled its share price after bottoming out near $3.50 in May.

On 25 March, FMG downgraded its 1Q11 production guidance due to the wet weather events at the beginning of the year.

FMG now expects quarterly production to be at the lower end of its previous guidance of 8.5 – 9.0 million tonnes of iron ore.

However, Fortescue Metals said that operations are now back to normal and that its Christmas Creek ore processing, stockpile and train loading facility has now commenced.

For more FREE Fortescue Metals & Materials Shares News, click here.


   Written by: admin   Other posts from: admin
7 day free trial
 



asx-share-price

To start your Free 7 day trial please complete your details below

* required fields

IMPORTANT: an activation code will be sent via SMS, please enter your preferred mobile number



Disclaimer: The content of this blog does not constitute a recommendation nor does it take into account your investment objectives, financial situation nor particular needs. Before acquiring or using any of Australian Stock Report's products, you should obtain and consider our Financial Services Guide. Australian Stock Report Ltd (ACN 106 863 978) is licensed as an Australian Financial Services Licensee pursuant to section 913B of the Corporations Act 2001. AFS Licence 301682. Any content within this email remains the property of Australian Stock Report and should not be reproduced without the consent of Australian Stock Report
RSS Feed