Fortescue obtains approval for Chichester operations

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.