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Australia's FMG signs agreement with Gabon for iron ore project

23 Aug 2022 14:57 reported by Hazel Chen

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Australian iron ore company, Fortescue Metals Group (FMG), announced that it had signed an agreement with Gabonese Republic. FMG obtained a project license for iron ore exploration in Belinga, West Africa.

The agreement would also allow FMG to conduct a US$90 million exploration program over three years and grant exploration licenses covering approximately 4,500 square kilometers. FMG indicated that Belinga might be one of the largest undeveloped high-grade hematite deposits in the world.

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