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Fortescue Mineral Resources Update: Development Properties

Mining News - Published on Mon, 20 Aug 2018

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Fortescue Metals Group (ASX: FMG, Fortescue) presents the attached Mineral Resources statement for its Development Properties at 30 June, 2018. The report updates the Inferred Mineral Resource estimates in accordance with the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves, December 2012 (the JORC Code) as required by the Australian Securities Exchange. The annual summary will be included in Fortescue’s 2018 Annual Report which should be read in conjunction with the enclosed statement.

Summary: Mineral Resources Development Properties - Hematite
PropertyIn-situ tonnes (mt) Jun'18Fe%In-situ tonnes (mt) Jun'17
Greater Chichester43356.4433
Greater Solomon265856.82658
Western Hub164257.12125
Total Development Mineral Resources719857.17680


Tonnage information has been rounded and as a result the figures may not add up to the totals quoted.

The Western Hub Inferred Mineral Resource has changed to 1,642 million tonnes (mt). This decrease follows the transfer of the Eliwana deposit to the operating properties for the 2018 reporting period. This has been partly offset by a 393 mt increase to the Lora, Boolgeeda and Vivash deposits. The additional tonnes include high grade bedded iron deposits (BID) in the Brockman Iron Formation, along with channel iron deposits (CID) and detrital iron deposits (DID).

Chief Executive Officer, Elizabeth Gaines said, “With our Eliwana project now underway, it is pleasing to see our hematite mineral resources at our development properties maintained at over
seven billion tonnes, with the Nyidinghu resource remaining as a significant development option for the future.”

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Posted By : Rabi Wangkhem on Mon, 20 Aug 2018
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