Fortescue increases resource estimate of Nyidinghu iron ore project

Australia-based Fortescue Metals Group has announced that it has increased the resource estimate for its Nyidinghu iron ore project located in the Chichester Hub in the Pilbara region of Western Australia to 2.46 billion mt, adding 450 million mt.
 
Fortescue also stated that it is confident that the Nyidinghu resource will eventually exceed 3 billion mt, when all resource definition drilling is completed.
 
The Nyidinghu project plays a significant role in Fortescue's capacity expansion to 155 million mt per year.