Port Hedland may still get outer harbour
The joint venture was formed in August under the name FMG Iron Bridge, and will develop a set of magnetite assets that have been spun out of Fortescue’s flagship iron ore export business.
Speaking at Port Hedland on Tuesday, Fortescue chief executive Nev Power said the bigger second stage of the FMG Iron Bridge joint venture would likely require its own port structures.
‘‘We will probably build a stand-alone facility for that and it could be through an outer harbour,’’ he said.
BHP Billiton was famously planning to build a new $US20 billion outer harbour at Port Hedland before abandoning those plans last year as iron ore prices weakened.
Mr Power stressed any outer harbour considered for FMG Iron Bridge would likely be smaller and cheaper than BHP’s version.
Despite raising the prospect of a stand-alone port for the joint venture, Mr Power reiterated his belief that significant amounts of spare capacity remained available within Port Hedland’s inner harbour.
Frequently Asked Questions about this Article…
The FMG Iron Bridge joint venture is a collaboration between Fortescue Metals, Baosteel, and Formosa to develop magnetite assets. This venture was formed in August and involves assets spun out of Fortescue's main iron ore export business.
Fortescue Metals is considering building a new outer harbour at Port Hedland to support the second stage of the FMG Iron Bridge joint venture, which may require its own port structures due to the scale of the project.
Fortescue's proposed outer harbour is expected to be smaller and cheaper than the $US20 billion outer harbour that BHP Billiton had planned before abandoning it due to weakened iron ore prices.
Nev Power, Fortescue's CEO, mentioned that they would probably build a stand-alone facility for the FMG Iron Bridge joint venture, which could be through an outer harbour.
Yes, according to Fortescue's CEO, Nev Power, there is still significant spare capacity available within Port Hedland's inner harbour.
BHP Billiton abandoned its plans for a new outer harbour at Port Hedland last year due to weakened iron ore prices.
The partners involved in the FMG Iron Bridge joint venture are Fortescue Metals, Baosteel, and Formosa.
The outer harbour is significant for the FMG Iron Bridge project as it may provide the necessary infrastructure to handle the increased scale and requirements of the joint venture's second stage.
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