FMG on track to meet targets

Pilbara iron ore miner Fortescue Metals Group says it's on track to meet production targets after lifting shipments in the last three months of 2012.

In its quartly production report the company said a record run rate through Port Hedland, and increased production from Christmas Creek and the Firetail deposit were helping boost performance.

In the report FMG maintained production guidance for the 2012/13 financial year between 82 and 84 wet metric tonnes.

It also reinforced a move to resume development at the Kings development, which is scheduled for completion by the December 2013 quarter.

Earlier this month Ernst & Young analysts said FMG's move to restart work on Kings would boost confidence in the iron ore sector after investors were rattled by a drop in commodity prices at the end of 2012.

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