Fortescue Metals Group Ltd (Fortescue) will invest USD 8.4 billion to expand its annual production from 55 million mt to 155 million mt. The expansion is an attempt to significantly increase product sales in Asia, Europe and Australia. USD 4.6 billion will be used for the expansion of the existing port, main line rail network, train unloader and development of the new rail line to the Solomon mining area. The brownfield project to lift total production to 90 million mt across the Cloudbreak and Christmas Creek mining operations will cost USD 1.5 billion. The remaining USD 2.3 billion will go towards the greenfield development of Solomon Stage 1 covering two mining operations at Firetail and Kings along with related infrastructure.
