Joint venture partners Fortescue Metals Group (FMG) - through its subsidiary FMG Magnetite Pty Ltd - and Formosa Steel have given the green light to the development of the second stage of the Iron Bridge Magnetite Project in Western Australia.
The $3.7 billion project is located in the Pilbara, approximately 145 kilometres south of Port Hedland. The development is expected to generate up to 3,000 jobs during construction and a further 900 jobs once it is operational.
“In developing the Iron Bridge Project, Fortescue has demonstrated and refined each step of the ore processing system and conducted full-scale trials. Our focus has been to create the most energy and cost-efficient ore processing facility, tailored to the specific ore we will mine. We are now ready to build this plant and develop this mine, and are confident that our early work will support rapid progress to full production,” FMG Chief Executive Officer Elizabeth Gaines said.
Source: Fortescue Metals Group
The multi-billion dollar project will comprise of an ore processing facility with an annual capacity of 22 million wet metric tonnes; an airstrip and expanded village; a 195-kilometre water pipeline for Canning Basin; a 135-kilometre concentrate pipeline towards FMG’s Herb Elliot Port Facility and return process water pipeline; as well as a port handling facility that includes concentrate dewatering, covered storage and reclaiming/conveying to existing port outload circuits.
For this massive project, FMG will be engaging with local contractors and suppliers. The company has also established agreements with the Mjamal and Kariyarra people which will ensure opportunities are created for the local Aboriginal communities.
“This is great news for the Pilbara and great news for Western Australia. I look forward to working with FMG to ensure Western Australians, particularly in the Pilbara, will reap the benefits of this project in the years to come,” Premier Mark McGowan said.
Construction in Stage 2 of the Iron Bridge Magnetite Project is anticipated to commence this year, with first ore delivery expected in the first half of 2022.
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