Original article by James Thomson
The Australian Financial Review – Page: 28 : 13-Jul-16

Citigroup and UBS believe that Fortescue Metals Group will exceed its forecast for iron ore production of 165 million tonnes in 2015-16. Expectations of bullish full-year output have been heightened by data showing that shipments of iron ore from the Port of Hedland reached a record high in June. Clarke Wilkins of Citigroup estimates that Fortescue’s full-year production may have topped 168 million tonnes, while its port capacity could be up to 180 million tonnes. He suggests that there is the potential for Fortescue to use the cost savings from its debt-reduction program to increase its production to this level.

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG, CITIGROUP PTY LTD, UBS HOLDINGS PTY LTD, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO