Fortescue to Develop Queens Valley Iron-ore Mining Area
May 21 2019 - 8:24PM
Dow Jones News
By Rhiannon Hoyle
SYDNEY--Fortescue Metals Group Ltd. (FMG.AU) said it will
develop the Queens Valley mining area at its Solomon Hub in Western
Australia for roughly US$287 million.
The world's fourth-largest exporter of iron ore said the
development will ensure it can "maintain production of the
low-alumina Kings Fines product and is consistent with Fortescue's
strategy of optimising margin through an enhanced product mix."
The Queens Valley development has an expected life between 10
and 15 years.
Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com
(END) Dow Jones Newswires
May 21, 2019 20:09 ET (00:09 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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