trending Market Intelligence /marketintelligence/en/news-insights/trending/sp1dc-GZTg7y8rSlVr4TIQ2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

Fortescue Metals to boost shipments after securing port space for Iron Bridge

Mining Exploration Insights December

Mining Exploration Insights: Dip in gold drilling weighs on results

Mining Exploration Insights: Is the exploration sector back on recovery?

State of the Market: Mining Q2-2019

Fortescue Metals to boost shipments after securing port space for Iron Bridge

Fortescue Metals Group Ltd. is poised to boost annual shipments by 22 million tonnes by 2022 after finding space at Port Hedland for its Iron Bridge magnetite project in Western Australia, The Australian Financial Review reported Aug. 6.

Fortescue's FMG Magnetite Pty. Ltd. and joint venture partner Formosa Plastics Corp. unit Formosa Steel IB Pty. Ltd. recently approved the US$2.6 billion stage-two development of the project, which will have a full annual capacity of 22 million wet tonnes of 67% iron ore over a 20-year mine life. Delivery of first ore is scheduled for the first half of 2022.

Fortescue CEO Elizabeth Gaines said that to ship Iron Bridge's output from Port Hedland, the company will use existing infrastructure and build a shed port side to dewater and store magnetite sent through a pipeline from the property.

The addition of magnetite will see Fortescue's Port Hedland exports total about 200,000 tonnes per year, according to the report.

Gaines also said Iron Bridge is supported by the Western Australian government, while there had been no progress on the issue of a royalties discount. BHP Group's previous plans to export 290 million tonnes per year from Port Hedland were opposed by local communities concerned about dust pollution.