Australian
mining giant
Fortescue Metals Group has announced that it has signed a memorandum of understanding with
Australia-based company
Iron Ore Holdings Limited (IOH) to include IOH's Iron Valley in an expanded Nyidinghu development and
mining program located in Chichester Hub in the Pilbara region of Western
Australia.
Iron Valley is located next to
Fortescue's Nyidinghu deposit and the
iron ore resource at Nyidinghu extends into Iron Valley. The Nyidinghu project, with more than 2 billion mt of
iron ore resources, plays a significant role in
Fortescue's capacity expansion to 155 million mt per year.