According to the report, Australian Fortescue Metals Group (FMG) has approved its second stage on its Iron Bridge magnetite project located in south of Port Hedland. The decision was made after FMG’s US$1.7 billion Eliwana mine plan last year which cost a total of above US$5 billion.

It was expected to bring Western Australia more than 5,000 jobs in the near future. The CEO of FMG, Elizabeth Gaines, said that they already received orders of total 5.3 million tons from 5 customers. They believed Iron Bridge project would rouse more demand from China and global.

FMG was the fourth biggest iron ore maker globally following after BHP Billiton, Rio Tinto and Vale, possessing more than 87,000 km² in the Pilbara region of Western Australia, which made it become the largest holder in Australia.