Australian iron ore producer Fortescue Metals has shipped the first ore from its 22mn t/yr Iron Bridge magnetite project to Vietnam.
The project aims to increase the overall grade of Fortescue's products, but it remains unclear if it will remain a standalone product or be included in a blend with lower-grade direct shipping ores.
The company hopes to ship 10mn t of Iron Bridge concentrate in 2023-24, which can be used to produce lower-emissions steel by reducing the volumes of coking coal required. Fortescue's chief executive, Fiona Hick, believes that high-grade magnetite products will play a crucial role in lowering emissions in the steel industry.
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