Xstrata To Produce Half Million Tonnes Iron Ore

Reuters reported Xstrata (LSE:XTA) said it will produce more than a half-million tonnes of iron ore over the next five years at its Mount Margaret mine in Australia.

As quoted in the market news:

The tonnages will come from Xstrata’s Mount Margaret mine, which it acquired last year for A$175 million, and get processed for export at the company’s larger Ernest Henry project in Australia’s north east.

In addition to copper, Xstrata expects the Mount Margaret mine to yield 560,000 tonnes of iron ore in concentrate and 83,000 ounces of gold over the five years.

Click here to read the full Reuters report.