Despite ongoing talk of a significant economic slowdown in China, Fortescue Metals doesn't expect the world's second-largest economy to lose steam anytime soon.
Australia's number three iron ore producer opened the doors of its Solomon project in Australia's Pilbara region this week as the project begins to ramp up its iron ore production to feed China's appetite for the commodity.
(Read more: Why tapering could take iron ore to record highs)
The Solomon project completes Fortescue's suite of iron ore mines in the Pilbara and will help the miner achieve its annual target of mining 155 million tons of iron ore by March 2014.
The company has spent around A$9 billion in an exhaustive capital expenditure program to get mines up and running and as it strives to take advantage of the high iron ore prices and strong Chinese demand.
On a tour of the Solomon project, Fortescue Chief Executive Nev Power told CNBC, "Fortescue is very confident about the long-term [demand outlook] for China. With 7-8 percent [economic] growth forecast, China's urbanization will take some decades to complete and that means strong steel demand and iron ore demand going forward."
Fortescue's expansion of its Pilbara mines has taken place at a break neck pace. The Solomon project, which houses 2 mines, shipped its first ore from the Fire Tail mine just one year ago.