Western Australia mining and infrastructure company, Fortescue, has released its March 2023 Quarterly Production Report, showing total exploration and studies capital expenditure in Q3 FY23 of US$71 million.
Summary highlights include:
- Iron ore shipments of 46.3 million tonnes (mt) in Q3 FY23 contributed to record shipments for the nine months to 31 March 2023 of 143.1mt. These shipments consisted of mining, processing, rail and shipping combined
- The first wet concentrate was produced from the ore processing facility at the Iron Bridge Magnetite Project on 21 April 2023, ahead of being pumped to Port Hedland
- Signed the Mining Convention for the Belinga Iron Ore Project in Gabon, with first mining planned in the second half of calendar 2023
- Construction works completed at Fortescue Future Industries’ (FFI) electrolyser manufacturing facility in Gladstone
Fortescue Metals Chief Executive Officer, Fiona Hick, said “It’s been another strong quarter for our core iron ore business, which is a credit to the team and demonstrates our continued focus on safety, production and cost. We achieved record shipments for the nine months to 31 March of 143.1 million tonnes.”
The first wet concentrate was produced from the Ore Processing Facility at the Iron Bridge Magnetite Project on 21 April 2023, ahead of being pumped to Port Hedland.
“This is a significant milestone for Fortescue as Iron Bridge represents our entry into the highest grade segment of the iron ore market, providing an enhanced product range while also increasing production and shipping capacity. It demonstrates our strong track record of successfully delivering complex projects safely.
“Also reinforcing our commitment to investing in growth is the progress underway at the Belinga Iron Ore Project in Gabon. The Mining Convention was signed during the quarter, establishing the legal, fiscal and regulatory regimes for the project, including an early stage mine development.
“Fortescue continues to advance its decarbonisation plan as we work towards eliminating emissions from our iron ore operations by 2030. Together with our strong balance sheet and focus on investing in growth, we are well placed to advance our transition to a global green metals and energy company and ensure all stakeholders continue to benefit from Fortescue’s success.”
Fortescue’s Port Hedland operations were briefly suspended as a result of Tropical Cyclone Ilsa in April 2023. There were no injuries or significant damage reported.
