Australian iron ore company Fortescue Metals' board has given the green light to the $1.27bn Eliwana mine and rail project. The decision by the board, which is chaired by former BHP Billiton chairman Kerry Packer, follows a review of the project that was conducted in 2014 after it emerged there were concerns about its environmental impact. The board of iron-ore major Fortescue Metals has approved the $1.27-billion Eliwana mine and rail project, in the Pilbara. Fortescue has shipped more than one billion tonnes of iron ore in the past decade and CEO Elizabeth Gaines said the Eliwana mine would allow the firm to "maintain a minimum 170-million-tonne-a-year production rate over 20 years".
Australian iron ore company Fortescue Metals' board has given the green light to the $1.27bn Eliwana mine and rail project. The decision by the board, which is chaired by former BHP Billiton chairman Kerry Packer, follows a review of the project that was conducted in 2014 after it emerged there were concerns about its environmental impact. Fortescue has shipped more than one billion tonnes of iron ore in the past decade and CEO Elizabeth Gaines said the Eliwana mine would allow the firm to "maintain a minimum 170-million-tonne-a-year production rate over 20 years".