NEWS
THE LATEST MINING AND SAFETY NEWS AUSTRALIAN MINING PRESENTS THE LATEST NEWS FROM THE BOARDROOM TO THE MINE AND EVERYWHERE IN BETWEEN. VISIT WWW.AUSTRALIANMINING.COM.AU TO KEEP UP TO DATE WITH WHAT IS HAPPENING. FORTESCUE BUILDS IRON BRIDGE WITH SIMPEC SIMPEC has won a $145 million major construction contract for a wet processing plant at Fortescue Metals Group’s Iron Bridge magnetite project in Western Australia. The Iron Bridge project is a joint venture between Fortescue subsidiary FMG Magnetite and Formosa Steel. SIMPEC, which is an engineering contractor subsidiary to WestStar Industrial, will provide vertical construction services for the project
Dimasi said the contract represents a major milestone after four years of being part of WestStar. “This is an important milestone achievement for SIMPEC in the delivery of our company’s mission to deliver major projects in the industry,” Dimasi said. Fortescue completed a technical and commercial assessment of Iron Bridge in May 2021. The assessment resulted in a
with a workforce of around 500. According to WestStar, the wet processing plant will require major module installation, tank installation, large bore piping, and supply and installation of electrical and instrumentation works. The wet processing plant is a key part of Iron Bridge’s planned magnetite production rate of 22 million tonnes per annum. SIMPEC managing director Mark
FORTESCUE’S IRON BRIDGE PROJECT.
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IMAGE: FORTESCUE METALS GROUP.
revised cost of up to $US3.5 billion ($4.7 billion) for the project. “We look forward to further developing our relationship with the Iron Bridge joint venture and thank them for the opportunity to deliver such a high-profile project,” Dimasi said. “Thank you to the team for their dedication and efforts in securing this major award. This contract will strengthen our position in the market and allow us to continue to take our business to a new level.” FMG Magnetite owns 69 per cent of the project while Formosa owns the remaining 31 per cent.
FLSMIDTH SPLASHES OUT FOR THYSSENKRUPP MINING BUSINESS FLSmidth has agreed to purchase thyssenkrupp’s Mining Technologies business (TK Mining) for €325 million ($522.28 million) to create a pit-to-plant technology solution with a sustainable focus. The deal was highly amenable as both companies had complementary interests in transforming their businesses. FLSmidth is a Danish company which serves over 60 countries with engineering, equipment and service solutions for minerals, metals,
concrete, electronics and more. FLSmidth chief executive officer Thomas Schulz said the addition of TK Mining’s prowess in mining systems, materials handling and processing would be complementary. “TK Mining and FLSmidth are a perfect match and I am proud to announce this agreement to join forces,” Schulz said. “This is a truly transformational deal allowing us to accelerate our growth ambitions in mining by creating a stronger talent pool,
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and one of the world’s largest and strongest suppliers to the mining industry.” The deal will welcome 3400 TK Mining employees to FLSmidth, once regulatory requirements are completed within the next 12 months. As a multinational group of industrial and technology businesses, thyssenkrupp chief executive officer Martina Merz views the deal as not as a loss, but a shedding, to allow the company to
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strengthen other business areas. “The successful sale of the mining business shows that we are pressing ahead at full speed with the transformation of thyssenkrupp and achieving important results step by step,” Merz said. “But we have not yet reached our goal. The principle ‘performance first’ continues to apply. We need to return to positive cash flow as quickly as possible. The sale of Mining Technologies makes an important contribution to this.”
