| Fortescue welcomes increase in Port capacity | |
| | |
|
2f529b89-1394-4606-a050-cdd71c171b6a
Media Release
Fortescue welcomes increase in Port capacity
Perth, 15 November 2015: Fortescue Metals Group (ASX:FMG) has welcomed the announcement by the Western Australian Minister for Transport Dean Nalder that forecast capacity in the Port of Port Hedland would increase to 577 million tonnes a year, an increase of 82 million tonnes per annum or 16 percent, over the next three years.
'We applaud the work by the Pilbara Ports Authority (PPA) to remodel and upgrade the D class capacity of the Port. Consistent with our own modelling, the PPA has identified significant future upside for throughput at the Port, well beyond the revised allocation. Briefings received by Fortescue indicate there is at least the additional capacity available again, constrained only by landside infrastructure and optimisation,' Fortescue Chief Executive Officer Nev Power said.
'We're confident that the Port capacity will continue to increase through the application of innovative technology and ongoing improvements in shipping and infrastructure efficiency, providing benefit to all Port users.'
'Fortescue applauds the Minister and the PPA team for their work on this important project for Port Hedland.'
Media contacts:
Luke Forrestal
+61 411 479 144
[email protected]
Fortescue Metals Group Limited ABN 57 002 594 872 ACN 002 594 872
ADDRESS Level 2, 87 Adelaide Terrace, East Perth, Western Australia 6004
|
|
|
Fortescue Metals Group
|
|
DEVELOPMENT STAGE |
CODE : FMG.AX |
ISIN : AU000000FMG4 |
|
| |
ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Fortescue Metals is a iron development stage company based in Australia. Fortescue Metals holds various exploration projects in Australia. Its main assets in development are CHRISTMAS CREEK and NULLAGINE IRON in Australia and its main exploration property is SOLOMON GROUP in Australia. Fortescue Metals is listed in Australia and in Germany. Its market capitalisation is AU$ 77.1 billions as of today (US$ 50.1 billions, € 46.8 billions). Its stock quote reached its lowest recent point on January 29, 2016 at AU$ 1.41, and its highest recent level on April 24, 2024 at AU$ 24.76. Fortescue Metals has 3 113 799 936 shares outstanding. |