Xstrata to begin iron ore shipments from Australia

Xstrata Plc will start exporting iron ore concentrate to Asian buyers from Australia on Wednesday as part of a A$589 million redesign of its Ernest Henry copper and gold mine, the company said on Tuesday.

Exports of the magnetite-type material at a rate of 1.2 million tonnes a year are a key component of Xstrata plan to transform the Ernest Henry mine from an open-cut design to an underground one, the company said.