BlueScope Steel chief executive Paul O'Malley has announced a large loss and warned that the mining boom will end and manufacturing businesses were needed.

Fortescue has lifted its interim net profit by 155 per cent and says it will meet its full year production target, while iron ore prices should stay firm.

The BHP Billiton-led Escondida copper mine in Chile will expand after a $US4.5 billion investment by the joint venture, which includes Rio Tinto.