Fortescue expands exploration budget
KALGOORLIE (miningweekly.com) – Iron-ore major Fortescue Metals has increased its exploration budget for the 2020 financial year as it pursues a diversification strategy.
CEO Elizabeth Gaines told Diggers & Dealers on Tuesday that exploration spend in the 2020 financial year would increase to around A$140-million, up from the A$96-million spent in the 2019 financial year.
Gaines said that the exploration activity would be driving Fortescue’s future growth by focusing on product diversification.
In addition to iron-ore exploration in the Pilbara, Fortescue is also undertaking copper/gold exploration in Western Australia, and forms part of two exploration joint ventures in South Australia, where it is also hunting for copper and gold.
Furthermore, the miner has just completed its first 3 500 m drilling programme in Ecuador, where it is hunting for copper, and is conducting early stage exploration work in Argentina, which is also prospective for copper.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation