Pilbara focussed iron ore miner Fortescue Metals Group Limited (ASX:FMG) has predicted ongoing volatility for the price of iron ore.
Chairman Andrew Forrest has told Bloomberg he sees the iron ore price sitting above $US100 per tonne in 2012, but warned to expect sudden dips.
Mr Forrest also believes Chinese growth is robust and that the company is in a unique position because it’s popular in China.
Fortescue is currently planning to increase its production to 155 million tonnes per annum by 2013.
In the 2011 financial year Fortescue Metals Group recorded a net profit of $952 million.
