- Write by:
-
Friday, November 16, 2018 - 9:08:28 AM
-
772 Visit
-
Print
Mining News Pro - Fortescue`s Board of Directors, Andrew Forrest, Elizabeth Gaines and LEAP program participants. Image: Fortescue Metals Group
According to Mining News Pro -Fortescue Metals Group, in celebrating its achievements in the past 2018 financial year, has reinforced its focus on building sustainable mines of the future.
The $US1.275 billion ($1.69 billion) Eliwana iron ore mine and rail project in the Pilbara, which involves “the latest technology, autonomous trucks and design efficiency”, has been approved by the company’s board in May this year.
Fortescue’s pursuit of low-cost growth options coincides with it delivering a production target of 170 million tonnes (Mt) for the year. It achieved record shipments of 46.5Mt in the June quarter.
The company also boasts a record low net cash cost of $US12.36 ($16.99) per wet metric tonne.
Chief executive Elizabeth Gaines said, “Our results for the 2018 financial year continue to demonstrate our strong operational and cost performance across all of our sites, underpinned by our commitment and ongoing focus to become global leaders in safety.
“We are investing in the long-term sustainability of our core iron ore business, while pursuing growth and development opportunities, managing our flexible capital structure and delivering strong returns to our shareholders.”
Gaines in the company’s 15th annual general meeting was joined by Fortescue’s founder and chairman Andrew Forrest, the Board of Directors and shareholders as well as participants of Fortescue’s Leadership and Excellence in Aboriginal People (LEAP) program.
Fortescue said the program participants represent “the latest and biggest ever cohort of our LEAP program”.
Forrest said, “At Fortescue, it is about giving a hand up, not a hand out, and programs like LEAP provide our Aboriginal work mates with the chance to grow in confidence and become role models both at work and within their own communities.
“Fortescue’s growth will be built on our reputational capital, underpinned by our people and our deep relationships within the communities in which we work.”
Short Link:
https://www.miningnews.ir/En/News/299730
Mining News Pro - In the difficult and exhausting conditions of unilateral and cowardly sanctions, more than any other ...
Mining News Pro - The CEO of Khuzestan Steel Company informed about the plans made to reach the production level of 13 ...
Mining News Pro - The 19th International Metallurgy Exhibition (IranMetafo) was held at the permanent location of Tehran ...
Mining News Pro - European Commission President Ursula von der Leyen said last month that commodities like lithium and ...
Mining News Pro - In response to Western sanctions, Russian miners have looked towards merging to create companies ...
Mining News Pro - In 2020, Iran started to promote mining tourism by launching the first project in the Anguran lead and ...
Mining News Pro - Acid mine drainage has long been a scourge in Appalachia. Recent research suggests that we may be able ...
Mining News Pro - Using a global data set of zircon trace elements, new research demonstrates the power of machine ...
Mining News Pro - The global markets of nickel, lithium and cobalt – three of the key metals used in electric vehicle ...
No comments have been posted yet ...