Fortescue approves $3.7bn Iron Bridge stage two expansion
March 31st, 2019
Fortescue Metals Group subsidiary FMG Magnetite and joint venture partner Formosa Steel have agreed to the development of stage two of the Iron Bridge magnetite project in the Pilbara, Western Australia.
The $US2.6 billion ($3.7 billion) development includes a 22 million wet metric tonnes-per-year ore processing facility (OPF), an airstrip and expanded village, a 195-kilometre Canning Basin water pipeline and a 135-kilometre concentrate pipeline to Fortescue’s Herb Elliot port facility in Port Hedland.
The project will employ around 3000 people during construction and 900 full time positions once operations commence.
The development follows Fortescue’s $US500 million ($703 million) stage one construction of large scale pilot and demonstration plants, which have validated key equipment and magnetite production processes for the full-scale stage two OPF.
“The Iron Bridge project holds Australia’s largest JORC-compliant magnetite resource supporting a long mine life,” Fortescue chief executive Elizabeth Gaines said.
“The project is well progressed and ready for detailed design and execution with the majority of key approvals already in place. The innovative design, including the use of a dry crushing and grinding circuit, will deliver an industry-leading energy efficient operation with globally competitive capital intensity and operating costs.
“Our focus has been to create the most energy and cost-efficient ore processing facility, tailored to the specific ore we will mine.” Read more…