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[Ferro-Alloys.com]Australian Fortescue Metals Group (FMG), the world’s fourth largest mining company planned to raise its iron ore production capacity by 25% to 20 million tons in the fourth quarter.

Once FMG enhances its production capacity, its iron ore output in the first half of fiscal year 2013 would reach 36 million tons. Furthermore, its annual production would hit 82 million~84 million tons.

Last month, FMG announced to delay its expansion plan as the iron ore prices slumped substantially to below USD87/ton and the firm had to pay back the debt of USD4.5 billion.