Fortescue Metals ships first delivery of high-grade magnetite from Iron Bridge

Fortescue Metals (ASX:FMG) has shipped its first delivery of high-grade magnetite to Vietnam from its newly built Iron Bridge operations in WA.

Fortescue chief executive Fiona Hick was joined by Nyamal Traditional Custodians and representatives from Fortescue’s Iron Bridge joint venture partner Formosa in Port Hedland as the first shipment was loaded.

Ms Hick said today was a special day for Fortescue.

“Today is a truly special day for Fortescue. Last week we celebrated 20 years since Fortescue was founded, and today, we celebrate our first shipment of high-grade magnetite product from our most complex and innovative project yet,” she said.

“Iron Bridge is a game changer for Fortescue and builds on our track record of safely and successfully developing and operating iron ore projects in the Pilbara.

“High grade magnetite product will play an important role in lowering emissions in the steel industry, and Fortescue is moving at pace to ensure we are at the forefront of developing green steel technologies.”

More than 20,000 jobs were created through the Iron Bridge project with the workforce peaking at 4000 jobs during construction. A further 900 full-time jobs have been created as the project moves into operations.

First magnetite product from Iron Bridge was made in May 2023 with a remarkable first run grade of greater than 68% iron.

Iron Bridge is expected to produce 22mtpa of high-grade magnetite concentrate.