Sesa Goa set to triple production on China demand

MUMBAI: Sesa Goa Ltd, India's biggest iron-ore exporter, will more than triple production because of a rebound in prices and demand from China and diversify into making steel, Managing Director P. Mukherjee said.

Output will be increased to 50 million metric tons from the current 15 million tons in the next two to three years, P. Mukherjee said in an interview. The Goa-based company is increasing production at its existing mines and looking to acquire reserves in India and overseas, he said.

China, the world's biggest consumer of iron ore, may buy 20 percent more than forecast next year, the Canberra-based Australian Bureau of Agricultural and Resource Economics said on Sept 22. China may import 637 million tons of ore in 2010, compared with a June prediction of 529 million tons.