Australian iron ore miner Fortescue Metals Group has announced that it has approved the development of the Eliwana mine and rail project, located in Western Australia’s Pilbara region.
Fortescue stated that it will invest US$1.275 billion in the project, which includes 143 kilometers of rail, a new 30 million mt per year dry ore processing facility and infrastructure. Production is planned to start in December 2020 and the mine will produce a new premium product with 60 percent iron content.
Elizabeth Gaines, Fortescue’s chief executive officer, stated that the development of the Eliwana project will maintain the company’s low-cost status, providing it with greater flexibility to capitalize on market dynamics while maintaining a minimum 170 million mt per year production rate over 20 years. Ms. Gaines added that this project is important to Fortescue and the state of Western Australia, creating up to 1,900 jobs during construction, 500 full time site positions once operational and the continued flow of benefits to its communities and the state economy.