On December 30, the Yandicoogina iron ore mine in the Pilbara region of Western Australia, a mine which is owned by Australia's largest mining company Rio Tinto, announced an output of 50 million mt of iron ore for the current year, the first time its annual output has reached this level.
According to the Rio Tinto press release, the output of 50 million mt per year is made more notable still given that in April the mine was producing at a rate only sufficient to reach 40 million mt for the year. Rio Tinto Iron Ore CEO Sam Walsh stated that it was a major acheivement to overcome the twin obstacles presented by the impacts of the global financial crisis and flooding.
In addition, since its most recent expansion through Junction South East in 2007 and 2008, Yandicoogina has been ramping up towards its nameplate annual capacity of 52 million mt. Last year it produced 45.6 million mt of saleable products.