Fortescue Metals Group announced that the first ore from the Iron Bridge magnetite project in the Pilbara region of Western Australia has been fed into the processing plant.
The Iron Bridge project is owned by FMG Magnetite (69%) and Formosa Steel IB (31%). FMG Magnetite is a subsidiary of FMG Iron Bridge, which in turn is owned by Fortescue Metals (88%) and Baosteel Resources International (12%).
The magnetite mine is expected to deliver 22 million tonnes per annum of high grade 67% Fe magnetite concentrate. It is situated 145km south of Port Hedland.
The first production at the Iron Bridge magnetite project is expected in the March 2023 quarter.
Fortescue Metals executive chairman Andrew Forrest said: “Building on our track record of safely and successfully developing and operating iron ore projects in the Pilbara, Iron Bridge will lead the way for magnetite operations in Western Australia.
“This project demonstrates Fortescue’s commitment to our strategic pillars of investing in the long-term sustainability of our iron ore business, investing in growth, maintaining balance sheet strength, as well as delivering strong returns to our shareholders.
“As we transition to a global green energy, technology and resources company, Iron Bridge is an obvious choice to be considered as one of our first decarbonised, fossil fuel free sites, as we deliver on our target to achieve real zero Scope 1 and 2 emissions by 2030.”
According to the company, over 12.8 million workhours have been used to design and construct the mine, pipelines, infrastructure, and village at the Iron Bridge project.
The magnetite project is said to have so far generated over 3,000 jobs and is expected to create another 900 full time roles when it moves into operations.
There are presently 3,470 personnel working at the ore processing facility (OPF) and pipelines scope of work, stated the mining company.
Fortescue Metals iron ore chief operating officer Dino Otranto said: “The Iron Bridge high grade magnetite product is a significant differentiator for Fortescue, and led by the highly experienced project team, I am incredibly pleased with the significant progress made to achieve first ore feed into the processing plant.
“This is a project that has been delivered during a challenging environment, and despite a global pandemic, rising inflationary pressures and a tight labour market, the Fortescue Values have risen to the forefront and demonstrated our ability to continue delivering this ground-breaking project.”
The project is expected to become one of the first fossil fuel free sites of Fortescue Metals helped by the company’s recently announced $6.2bn decarbonisation investment to achieve real zero Scope 1 and 2 emissions by the end of this decade.
The company stated that a total of A$2.8bn ($1.81bn) in goods and services have been obtained from Western Australia for the Iron Bridge project and operations.
