OneSteel on track for 6m tonnes of iron ore salesAndrew Harrison...

OneSteel on track for 6m tonnes of iron ore sales

Andrew Harrison | October 06, 2009
Article from: Dow Jones Newswires
ONESTEEL chief executive Geoff Plummer said the company is on track to achieve iron ore sales of six million tonnes this fiscal year.

The Sydney-based company, Australia's second-largest steel maker, has converted its Whyalla Steelworks, in South Australia, to use magnetite ore rather than hematite ore, so has been able to expand its hematite ore sales.

The company sold five million tonnes of ore in the year ended June 30, including two million tonnes under contract.

Mr Plummer told a JP Morgan conference presentation that OneSteel's long-term plan is to sell 80 per cent of its ore under contract.

http://www.theaustralian.news.com.au/business/story/0,28124,26171827-36418,00.html