Top 10 Mining Projects to watch in 2021

|Jan 28|magazine2 min read

10. Iron Bridge Magnetite project

Mine name: Iron Bridge Magnetite project
Commodity: Magnetite ore
Location: Western Australia
Owner/Operator: Jointly owned by Fortescue subsidiary FMG Iron Bridge, Formosa Steel IB and Boasteel

Located 145kms south of Port Hedland in Western Australia, Fortescue Iron Bridge is a joint venture mining project between Fortescue’s subsidiary FMG Iron Bridge and Formosa Steel IB. Boasteel also has an interest in the project, as a minority shareholder.

The Iron Bridge Magnetite project, currently under development, is expected to cost £1.96 billion and expected to deliver 22mtpa of high-grade 67 percent Fe magnetite concentrate product. The project incorporates the world-class North Star and Glacier Valley Magnetite ore bodies.

Work on the mine is scheduled to be completed in 2021. It is expected to create 3,000 construction jobs and 900 permanent operational job over the course of the mine’s lifespan.