Fortescue Metals has signed an agreement with the Nyamal traditional custodians to provide mining equipment to its Iron Bridge Magnetite project.
The Iron Bridge Magnetite project is located 145 kilometres south of Port Hedland in Western Australia, and is an unincorporated joint venture between FMG Magnetite, a Fortescue subsidiary (69 per cent), and Formosa Steel IB (31 per cent).
The operation reported its first magnetite production which measured an impressive grade of over 68 per cent iron.
The $18 million agreement between the major miner and the Nyamal people will build upon the $331 million in contracts previously awarded to Nyamal businesses since 2019.
The agreement will also see Nyamal Holdings initially provide five contour drill rigs, one stemming loader and two platform rigs to Fortescue. This will grow to include six additional platform rigs over the next two years to meet the Iron Bridge mine plan.
Fortescue Metals chief executive officer Fiona Hick said the project’s drill and blast program is crucial to achieving maximum throughput in the processing plant.
“We are pleased that we have been able to partner with Nyamal to deliver this important capability,” Hicks said.
“From the outset, Fortescue has been focused on practical initiatives that drive economic and employment opportunities for Indigenous Australians. Contracts like this support the growth of Indigenous businesses, enabling them to build capability which in turn provides ongoing economic benefits to communities.”
Nyamal Aboriginal Corporation chair Gavin Mitchell said the company has a strong and ongoing engagement with Fortescue and this contract builds upon this relationship.
“Nyamal Holdings are excited to secure this significant contract for the Nyamal people enabling us to own the fleet which will provide ongoing training and employment opportunities for Nyamal members,” Mitchell said.