Mr Geoff Plummer CEO of OneSteel said that the company is on track to achieve iron ore sales of 6 million tonnes this fiscal year.

As per report, OneSteel has converted its Whyalla Steelworks in South Australia to use magnetite ore rather than hematite ore so has been able to expand its hematite ore sales.

The company sold 5 million tonnes of ore in the year ended June 30th 2009, including 2 million tonnes under contract.

Mr Plummer told a JP Morgan conference presentation that OneSteel's long term plan is to sell 80% of its ore under contract.

(Sourced from www.theaustralian.news.com.au)