Iron-ore main Fortescue has lastly produced its first magnetite product, after having its maiden manufacturing pushed again and after struggling important price blow-outs.
Fortescue mentioned this week that the mission’s first run price had produced grades of higher than 68% iron, with the focus now being transported by means of the 135 km specialist slurry pipeline the place dewatering and supplies dealing with occurred at Port Hedland to a high-grade magnetite product, able to be shipped and appropriate for steelmaking.
“Iron Bridge is a agency demonstration of our firm’s Values, notably NEGU – By no means Ever Give Up dedication. Iron Bridge briefly adopted the standard approach of delivering initiatives earlier than recovering and switching again to our Values of empowerment-driven management. What a fantastic job the staff has now completed,” Fortescue govt chairperson Dr Andrew Forrest mentioned.
“I wish to congratulate each one of many 20 000 individuals who labored on attaining essentially the most outstanding security file in the course of the building of this extremely complicated mission. It has been achieved by means of each section together with exploration, design, building and now operations. It’s Fortescue’s Values in motion and I notably thank our leaders who amply demonstrated our Values.
“Iron Bridge will prepared the ground for a profitable magnetite trade in Western Australia and is a sport changer for not solely Fortescue, however the wider iron-ore trade.”
The $3.9-billion Iron Bridge will produce 22-million tonnes a yr of high-grade magnetite focus and signifies Fortescue’s entry into the highest-grade phase of the iron-ore market, offering an enhanced product vary whereas additionally rising yearly manufacturing and transport capability.
“The development of Iron Bridge, Fortescue’s first magnetite operation, was complicated, notably whereas managing the added challenges ensuing from Covid-19 and border closures. I’m notably proud that the staff was in a position to ship this mission whereas sustaining robust security efficiency. Our focus is now on attaining secure and environment friendly ramp-up,” Fortescue CEO Fiona Hick mentioned.
“Iron Bridge is a major differentiator for Fortescue. It demonstrates our dedication to long-term planning and the sustainability of our iron-ore enterprise, whereas additionally investing in progress. We’re dedicated by means of the cycle to delivering sturdy returns to our shareholders and constructing an more and more robust stability sheet.”