Fortescue Metals Group Ltd has produced its first magnetite product, with a first run grade of more than 68% Fe.
Following the successful production of wet concentrate at the Iron Bridge site, it has now been transported through the 135 kilometre specialist slurry pipeline at Port Hedland to a high grade magnetite product ready for shipment and suitable for steel making.
According to Fortescue, it marks the end of over 20 years of planning and over 20 million labour hours on site. The Ore Processing Facility reaching specification metal output in its first week of operations vindicated the time and capital (US$0.5 billion) invested in piloting the highly unique Iron Bridge process.
Fortescue said Iron Bridge will generate 22 million tonnes of high-grade magnetite concentrate per year.
In marking the milestone for the project, Fortescue Executive Chairman Dr Andrew Forrest AO stated that Iron Bridge embodies Fortescue’s values, especially NEGU—Never Ever Give Up. Forrest noted that Iron Bridge returned to empowerment-driven leadership after briefly executing projects in the old manner.
“I would like to congratulate every one of the 20,000 people who worked on achieving the most remarkable safety record during the construction of this incredibly complex project. It has been achieved through every phase including exploration, design, construction, and now operations. It is Fortescue’s Values in action and I particularly thank our leaders who amply demonstrated our Values,” Forrest said.
He added that Iron Bridge will pave the way for a prosperous magnetite sector in Western Australia, and it will be a game changer not only for Fortescue but for the whole iron ore industry.
Iron Bridge represents Fortescue’s entrance into the highest grade part of the iron ore market, delivering an expanded product variety while boosting yearly output and shipping capacity.
Fortescue Metals Chief Executive Officer, Fiona Hick, said “The construction of Iron Bridge, Fortescue’s first magnetite operation, was complex particularly while managing the added challenges resulting from COVID-19 and border closures. I’m particularly proud that the team was able to deliver this project while maintaining strong safety performance. Our focus is now on achieving safe and efficient ramp up.”
“Iron Bridge is a significant differentiator for Fortescue. It demonstrates our commitment to long term planning and the sustainability of our iron ore business, while also investing in growth. We are committed through the cycle to delivering robust returns to our shareholders and building an increasingly strong balance sheet,” Hick added.
