Fortescue considers expanding capacity after prices rise

Australia’s no.3 iron ore miner, Fortescue Metals Group, plans to review in December whether to push ahead with tripling its iron ore capacity, a plan it deferred in September when iron ore prices slid to a three-year low.

The company had expected iron ore prices to hold around US$120 a tonne, but when prices slumped to US$87 in September it slammed the brakes on plans to lift its annual capacity to 155 million tonnes by digging the Kings mine.

via Business feed http://www.scmp.com/business/companies/article/1082200/fortescue-considers-expanding-capacity-after-prices-rise