Fortescue obtains approval for Chichester operations
Australian Fortescue Metals Group obtained the final permission required from state authorities in order to implement its mining operations in Chichester Range tenements in Western
Australia.
According to the announcement from the company, Fortescue Group and the State of Western
Australia signed a Mining State Agreement. The agreement is titled the
Iron Ore (FMG Chichester Pty Ltd) Agreement and establishes the legislative framework for the implementation of Fortescue's mining operation. FMG Chichester is a wholly owned subsidiary of Fortescue and holds the Chichester Range tenements.
The agreement covers Fortescue's proposed mining activities within the Chichester Range deposits and accommodates the Company's plans for an initial
production target of 45 million metric tons per annum. The Agreement also provides for an expansion of this
production program after consultation and approval from the relevant ministry.