According to report, Australian miner Fortescue Metals Group Ltd opens new mine named Firetail at Solomon. It is another step to become one of Asia’s major supplier.
The development of Firetail mine for the first stage costs US 3.2 billion. It will produce about 20 mpta of iron ore and the second stage will produce another 40 mpta at the Kings mine.
Fortescue will expect to raise the capacity to 115 mtpa after the start-up the Firetail mine last month. The company has strong confidence in China’s market even the spot price fluctuation over the last 12 months.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=64308&division=A9