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Australian FMG's new product project begins

22 May 2019 15:09 reported by Sammi Lin

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According to the report, Fortescue Metals Group Limited (FMG) planned to expand the Queens Valley mining area located in the Pilbara region with abundant iron ore in Western Australia.

FMG is an Australian iron ore industry and is the fourth biggest iron ore producer globally.

This project costs US$287 million for FMG developing higher quality commodity providing customers from China, Japan, and South Korea since their lower grade products had lost favor with Chinese customers.

FMG announced this April to cooperate with a partner from Taiwan for a premium product exploitation plan in Western Australia valued US$ 2.6 billion. The project has got permission to begin construction, and it was expected to last 10 to 15 years.

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