""Mining will account for more than half its assets when iron...

""Mining will account for more than half its assets when iron ore production reaches 11 million metric tons a year at full capacity after June 2013, OneSteel Chief Executive Geoff Plummer said yesterday. It plans to produce 6 million tons of iron ore this fiscal year.

“We see value in the iron ore business and mining consumables business, which are both key drivers of earnings while Australian steel remains weak,” UBS AG analysts Andrew Moller, Glyn Lawcock and Daniel Morgan said in a report published today. The analysts had a “buy” rating on the stock and a 12-month price target of between A$1.50 and A$1.61.""