Original article by Peter Ker
The Australian Financial Review – Page: 20 : 6-Dec-23

Fortescue Metals Group has shipped the first iron ore from its Belinga project in Gabon, just 10 months after it signed a mining convention with the African nation’s former government. Meanwhile, Rio Tinto has advised that it will spent $110m on a pre-feasibility study for the Rhodes Ridge iron ore mine in the Pilbara region, and an additional $400m on exploration drilling between 2024 and 2028. Rhodes Ridge is estimated to contain 6.8 billion tonnes of ore at an average grade of 61.6 per cent iron content, including 600 million tonnes at 63.9 per cent iron content. Rio Tinto expects production to start in 2030.

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG, RIO TINTO LIMITED – ASX RIO