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The World's Fourth-largest Iron Ore Mining Company Wants To Improve Ore Grade China Haze Pollution Will Ease

Elizabeth Gaines, chief executive of Australian iron ore producer Fortescue Metals Group, says the company is trying to find, invest and develop other minerals.

In an interview with the media, Gaines said she has high hopes for the company's exploration of copper, gold and lithium, which is advancing in Ecuador and Argentina. Gaines says finding the right program to develop the company's copper business is critical, as the future global demand for copper will grow, driven by the electric car industry.

Fortescue Metals Group, a company created and controlled by Andrew Forrest, now produces about 1.7 million tonnes of iron ore annually in the Pilbara region of Western Australia. In order to maintain and grow in existing production, Fortescue has started to build $1.3 billion worth of eliwana iron ore mines in the same area.

The project will be officially put into operation in December 2020 and will produce a higher-tasting iron ore, with the finished product nearing a benchmark of 62% iron content. It is expected that this high-quality iron ore products will be the maximum supply to Fortescue Company's largest customer-China. At present, more and more steel mills in China are demanding higher quality iron ore supply to reduce pollution in the production process, which will also help ease the smog problem in China.


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