Rio Tinto reported its iron ore output has more than 50 million tons from one mine for this quarter, recording the first time high on improved demand.
Rio Tinto now sold its half of iron ore at spot market prices and half for annual contract prices. It also expects its outputs will be about 210 to 215 million tons in 2009, increase from 170 million tons in 2008.
Other Australian miners BHP will plan to boost output by 31 percent to 205 million tons by 2011. Fortescue also plans to increase production to 45 million tons from 38 million this year.
(source: Yieh.com)