Apologies in advance to Atlas enthusiasts on this thread for the following but it's proof of what I was writing about (correcting anothers assertions) in previous post.
Fortescue Metals Group Limited PO Box 6915
ABN 57 002 594 872 East Perth, Western Australia
Level 2, 87 Adelaide Terrace P +61 8 6218 8888
East Perth, Western Australia
6004
E [email protected]
28 May 2018
The Companies Officer
Australian Securities Exchange Ltd
Level 40, Central Park
152-158 St Georges Terrace
Perth WA 6000
Dear Madam or Sir
Eliwana Project Announcement
Fortescue Metals Group (ASX: FMG, Fortescue) is pleased to advise that the Board has approved
the development of the Eliwana mine and rail project, located in Western Australia’s Pilbara region.
Eliwana Highlights
• Estimated capital cost of US$1.275 billion
• 143 kilometres of rail, a new 30mtpa dry ore processing facility (OPF) and infrastructure • Production commences December 2020 with a life of mine strip ratio of 1.1
• Underpins the introduction of a 60% iron grade product (Fortescue Premium) in the second
half of FY19
• Financed from operating cashflows at a capital intensity of US$42 per tonne
Fortescue’s Chief Executive Officer, Elizabeth Gaines said “Development of the Eliwana Project
will maintain Fortescue’s low cost status, providing us with greater flexibility to capitalise on market
dynamics while maintaining a minimum 170 million tonnes per annum production rate over 20
years.”
“This Project allows us to commence the supply of Fortescue Premium product to the market from
existing operations in the second half of FY19 with volumes increased as Eliwana ramps up to full
production.”
“Fortescue has now shipped over one billion tonnes of iron ore in just ten years, generating strong
returns from our position at the lowest end of the global cost curve. This Project is important to
Fortescue and the state of Western Australia, creating up to 1,900 jobs during construction, 500
full time site positions once operational and the continued flow of benefits to our communities and
the state economy.”
Stefans might be time to consult a professional, you seem to be imagining things.
This official FMG announcement available on fmg thread.
