Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Reuters
Reuters
Business

Australia's Fortescue says lacks capacity to 'materially' boost iron ore output near-term

FILE PHOTO : The logo of Australia's Fortescue Metals Group can be seen on a bulk carrier as it is loaded with iron ore at the coastal town of Port Hedland in Western Australia, November 29, 2018. REUTERS/Melanie Burton

MELBOURNE (Reuters) - Australia's Fortescue Metals Group said that it had no capacity at its ore processing facilities to immediately add 'material' iron ore volumes, after a dam tailings burst in Brazil raised uncertainty over global supply.

"In the short-term, there is not necessarily the capacity to add material incremental volumes, but I think like everybody else we would look at opportunities where we can to add tonnes," Chief Executive Elizabeth Gaines told media on a results call on Wednesday.

Capacity bottlenecks centre on its ore processing facilities, rather than rail or port facilities, she added.

(Reporting by Melanie Burton)

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.