‘Big three’ to boost iron ore production
Australia’s “big three” iron ore miners are set to unveil a boost in third-quarter production and will mine even more in the fourth quarter, ignoring forecasts of a looming supply glut in favour of capturing greater economies of scale.
Rio Tinto this month upped annualised output of the steel-making raw material by 20 per cent to 290 million tonnes, while BHP Billiton and Fortescue Mining are in the midst of robust expansion work.
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