$69 postpage LB

Fortescue Metals To Surpass Wesfarmers In Terms Of Market Capitalisation, Delivers Outstanding Q4 FY2020 Performance

  • July 30, 2020 01:07 PM AEST
  • Team Kalkine

Fortescue Metals Group Ltd (ASX:FMG) shares at AEST 12:33 PM is trading at A$17.410, a rise of 3.32% from the previous close with a market cap of A$51.88 billion. Looking at the present scenario, FMG might just be on way to surpass Wesfarmers (ASX:WES) in terms of market cap.

Gold MTF non-AMP

Fortescue Metals delivered outstanding Q4 FY2020 operating performance.

  • Total Recordable Injury Frequency Rate reduced to 2.4 in the 12 months to 30 June 2020.
  • 3 million tonnes of record iron ore shipment was made during this quarter and 178.2mt for FY2020.

FY2021 Guidance:

  • Iron ore shipments would range from 175mt to 180mt.
  • C1 Cost would lie in between US$13.00 - US$13.50/wmt.
  • Capital expenditure would range from US$3 billion to US$3.4 billion.


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