Fortescue Metals said its Western Hub had pushed its total resources to more than 10bn tin its Pilbara iron ore base in Western Australia, Bloomberg reports.
The Western Hub had a maiden resource statement of 625Mt, it said in a statement.
Fortescue Metals said it expected iron ore prices to remain high until at least 2012 before new supply enters the market from 2013 to 2015.
The high cost of China's domestic iron ore supply would support the long-term price, the company said in slides prepared for a speech by founder Andrew Forrest in Hong Kong.
Separately, the company said it would not suffer a major impact from Japan's earthquake and tsunami.
It sees China's steel output capacity hitting 1.29bn t in 2015.