4March 2011
By Robb M.StewartBy Dow Jones
MELBOURNE -(Dow Jones)- Fortescue Metals Group Ltd. (FMG.AU), one of Australia's largest producers of iron ore, said Friday its output in the March quarter will be dented by continued heavy rainfall in Australia's Pilbara region.
The Perth-based company said it expects iron ore production to be between 8.5 million and 9 million metric tons, a reduction of 0.5 million tons from its previous guidance.
The sustained wet weather has caused significant flooding in the iron ore-rich Pilbara, which has closed roads and restricted air access to Fortescue's mining operations and disrupted production, it said.
The company said it working to maximize output throughout the remainder of the quarter.
Rio Tinto PLC (RIO) and BHP Billiton Ltd. (BHP) are the country's biggest producers of iron ore.
-Newswire
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