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Market:	ASX
Sector:	Non Ferrous Metals
EPIC:	FMG
Latest Price:	5.26 (-1.87% )
52-week High:	6.90
52-week Low:	4.06
Market Cap:	16,378.60M

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Fortescue Metals Group

Fortescue Metals Group (ASX: FMG) is an iron ore-focused company operating in Western Australia's Pilbara region.

Fortescue Metals ships 15 Millionth Tonne

Thursday, January 08, 2009 by Proactive Investors

Fortescue Metals Group (ASX:FMG) has shipped its 15 millionth tonne of iron ore through the Herb Elliott Port in Port Hedland, marking another milestone for the company.

Fortescue Executive Director Operations Graeme Rowley said, “the mine, rail and port operations teams worked hard throughout 2008 to achieve the 15 million tonne (mt) milestone as the company continues to ramp-up its operations.”

“In December we shipped 2.6mt which is the highest monthly rate achieved to date. The fourth quarter result was 6.3mt shipped, noting that this period included a 10 day port shut down to commission the second wharf. In addition, the tonnes mined at Cloudbreak during 2008 totalled 19.5mt, just 1% shy of our target.”

Fortescue exported more than 14.8mt of high quality iron ore in 2008, after loading its First Ore On Ship on May 15, 2008. Fortescue also shipped 60,000 tonnes for Atlas Iron in December, which marked the historic first shipment of iron ore by a third party from a Pilbara port.

“We are continuing to finetune our operations and will increase mine, rail and port tonnage through 2009. Commissioning of the company’s desand plant at the Cloudbreak mine site is proceeding as planned, which will ensure Fortescue’s ore specification in quality and quantity is maintained,” Mr Rowley said.

Fortescue Metals was trading at $2.08

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