QINGDAO, China, Sept 22 (Reuters) - Australia's Roy Hill Holdings is aiming to make the first shipment of iron ore from its mine on October 21, the firm's chief executive Barry Fitzgerald told reporters on Tuesday.
He said the company was aiming to ramp up production at the $10 billion Roy Hill mine in western Australia to 55 million tonnes per annum within 15 months.
Fitzgerald said the firm had no choice but to go into production as soon as possible, adding that mining costs at the Roy Hill project would be very competitive.
The mine, 70 percent owned by Australian billionaire Gina Rinehart's private Hancock Prospecting, is the last of several mega-projects planned as part of a mining boom that has saddled the market with huge levels of oversupply. It was originally scheduled to begin operations in September.