PERTH (miningweekly.com) – Iron-ore major Fortescue Metals is working with its partners on the Iron Bridge magnetite project to advance the Pilbara project towards a final investment decision.
COO Greg Lilleyman said on Wednesday at the Global Iron & Steel Forecast conference, in Perth, that the proposed ten-million-tonne-a-year operation was a “significant possible” future investment for Fortescue and its partners Fermosa Group and Boasteel.
“We are in the final discussions with our joint venture partners, and have a long history of working on this project to continue to de-risk the plant.
“We are very excited about the project and the opportunities it can bring if there was a positive final investment decision,” Lilleyman said.
In the meantime, the miner is focusing on developing its $1.3-billion Eliwana mine and rail project, in the Pilbara.
The project will entail a new 30-million-tonne-a-year dry ore processing facility and infrastructure, as well as a 143 km rail line.
Production is expected to start in December 2020, and the mine will introduce a 60% iron-grade product into Fortescue’s portfolio by the second half of 2019.
While Eliwana is intended to replace tonnage from the Firetail operation, to maintain Fortescue’s yearly output, Lilleyman noted that there was opportunity for additional tonnage from the Firetail operation.
“Firetail will have an orderly transition [to care and maintenance], it won’t just drop off. But there will be an opportunity at the end of next year to maintain some of that volume, if there is a market opening, once Eiliwana is up and running,” Lilleyman said.