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Fortescue targets high-grade iron ore production

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Fortescue Metals Group (FMG) aims to make the bulk of its iron ore production above 60% Fe in order to “compete head to head” in the higher grade markets. This will be realized by what the miner is dubbing the “Firetail replacement project”, which will be implemented “without losing the company’s focus on minimum mine lives of 20 years.”

“A change in marketing focus directly related to flexible operations and new markets will also lead to greater penetration in global iron ore markets,” the miner said.

FMG has appointed its chief financial officer Elizabeth Gaines as the new chief executive officer to replace Nev Power effective early this year.


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