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

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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.

[MELBOURNE] 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.

REUTERS

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