FMG announces 300 million tonne resource upgrade

Fortescue Metals Group has increased its mineral resource base by 300 million tonnes.

The company said the additional tonnages include 70 million tonnes (37 Mt classified as indicated) at Cloudbreak mine, and 46 Mt (19 Mt indicated) at Christmas Creek mine.

It said the ore is at or very close to the surface and will be incorporated into the mine plan for each operation.

Meanwhile, a new mineral resource of 106 million tonnes (82mt indicated) has been located about 35 km south east of the company’s Christmas Creek ore processing facility.

A re-estimate of the mineral resource at Mt Lewin, 70km south east of Christmas Creek, has increased this mineral resource by 82 Mt to 280 Mt, all inferred.

FMG said the updates were completed with the intention of “updating both the existing estimation footprint and the stratigraphic interpretation” at its Chichester Hub.

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