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The target was previously set for June 2014.

“We are now focused on the next phase of our expansion towards 360 million tpy.

“The infrastructure is on schedule for completion in a little over 12 months and, from a base run rate of 290 million tpy, we have a rapid, low-cost pathway to increase mine production capacity by more than 60 million tpy between now and 2017,” Andrew Harding, Rio Tinto iron ore ceo, was quoted as saying in an announcement released on Tuesday May 13.

The miner said it is on track to deliver its low-cost growth in the next two years with mine production of more than 330 million tonnes in 2015.