FMG 4.01% $19.73 fortescue ltd

Nyidinghu is a large deposit, but its not high grade like...

  1. 1,034 Posts.
    lightbulb Created with Sketch. 169
    Nyidinghu is a large deposit, but its not high grade like Elliwana and apparently the geography makes it more expensive to get a train line to it.

    So, its sitting there waiting, but elliwana was a better option, FMG will eventually mine it, it will probably be used as a replacement for the Christmas creek or cloud break mine as they near the end of their life, but at the moment they are targeting higher grade stuff.
    Last edited by Cain Treanor: 02/10/20
 
watchlist Created with Sketch. Add FMG (ASX) to my watchlist
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.