Fortescue’s first ever high-grade magnetite product export is set to be shipped to Vietnam, following the completion of construction at the company’s Iron Bridge project.
It follows first production in early 2023 which saw the plant surpass expectations with a first run grade of greater than 67 per cent iron (Fe).
Iron Bridge signifies the first time Fortescue has produced a wet concentrate product, which is transported to Port Hedland through a 135km specialist slurry pipeline where dewatering and materials handling occurs to create a high-grade magnetite product.
Iron Bridge is an unincorporated joint venture between FMG Magnetite (69 per cent) and Formosa Steel IB (31 per cent).
A total of $3.6 billion in goods and services has been sourced within Western Australia for this project and its operations, including over $370 million awarded directly to local Indigenous businesses since 2020.
More than 20,000 jobs have been created through the Iron Bridge project with the site workforce peaking at 4,000 jobs during construction. Another 900 full time jobs have been created as the project moves into operations.
Fortescue Metals CEO, Fiona Hick, joined Nyamal Traditional Custodians and representatives from Fortescue’s Iron Bridge Joint Venture partner, Formosa, in Port Hedland as the first shipment was loaded.
Ms Hick noted that Fortescue had recently celebrated 20 years since its founding, and was now celebrating its first shipment of high-grade magnetite product from its most complex and innovative project yet.
“Iron Bridge is a game changer for Fortescue and builds on our track record of safely and successfully developing and operating iron ore projects in the Pilbara,” Ms Hick said.
“High grade magnetite products will play an important role in lowering emissions in the steel industry, and Fortescue is moving at pace to ensure we are at the forefront of developing green steel technologies.
“I congratulate the entire Fortescue team for delivering this project while maintaining strong safety performance. We remain focused now on achieving a safe and efficient ramp up.”
Featured image: The Iron Bridge project. Image credit: Fortescue.
