Australian iron ore company Phoenix Metals ' board has given the green light to the $ 1.27bn Eliwana mine and processing project . “Our economy continues to turn the corner and Western Australian jobs are being created.” The scheme now faces two public environmental reviews , but production is expected to begin in 2020 at around $ 42 per tonne . Fortescue has shipped more than one billion tonnes of iron ore in the past decade and CEO Elizabeth Gaines said the Eliwana project would allow the company to " maintain a minimum one - tonne - a - day production rate over 20 years " .
Australian iron ore company Phoenix Metals ' board has given the green light to the $ 1.27bn Eliwana mine and processing project . The scheme now faces two public environmental reviews , but production is expected to begin in 2020 at around $ 42 per tonne . Fortescue has shipped more than one billion tonnes of iron ore in the past decade and CEO Elizabeth Gaines said the Eliwana project would allow the company to " maintain a minimum one - tonne - a - day production rate over 20 years " .