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Article: FORTESCUE FIRMS UP THIRD AUSTRALIAN MINE PLAN, SOLOMON.
- Article from:
- AsiaPulse News
- Article date:
- November 12, 2009
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PERTH, Nov 12 Asia Pulse - Fortescue Metals Group Ltd (ASX:FMG) will decide in 2010/11 whether to mine its Solomon iron ore project in Western Australia and estimates the development will cost $A3.6 billion (US$3.35 billion).
Solomon was described by the company in a presentation to the Sydney Mining Club on Thursday as its "next generation" project.
If Fortescue decides to proceed, the Pilbara region project will become its third mine.
Fortescue estimated that the $3.6 billion development cost would include $1.2 billion for port facilities and $850 million for a rail spur link connecting the new mine to the company's existing rail line to ...