Dear FMG, page-7

It is understood Fortescue has already produced magnetite concentrate that is sitting in a stockpile at Iron Bridge from its 1.5Mtpa pilot plant.
Iron Bridge, which incorporates the North Star and Glacier Valley ore bodies and hosts a massive resource of 7.9 billion tonnes, is a joint venture between Fortescue, Taiwan’s Formosa Group and China’s Baosteel.
Only 100km from PH and 8 times larger. Why would they want Ridley?