Fortescue plans to increase output
On Thursday, it was reported that Fortescue Metals Group(FMG.AX), third largest iron ore miner, will increase the output as it plans to look beyond China for new growth in Asia.
The press release is quoted as saying:
Fortescue, like its bigger rivals Rio Tinto (RIO.AX)(RIO.L) and BHP Billiton (BHP.AX)(BLT.L), has stoked output to keep pace with orders from China, the world’s top steel producer and the company’s biggest market, with sales booked at 45 mills.
Click here to access the entire press release
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Fri, Jan 22, 2010
Post by Melissa Pistilli, Iron Senior Reporter