Thiess has landed an initial three-year contract to deliver mining and maintenance, plus asset management services for Fortescue’s Iron Bridge magnetite project in Western Australia.

Revenue to Thiess is expected to be more than $700 million over the first three years, with options to extend. 

“This is a significant project for Thiess as we pursue our strategy to diversify across commodities and deliver sustainable mining solutions for our clients,” said Executive Chair and CEO Michael Wright.

“Thiess’ appointment reinforces our mining capability, reputation for mobilisation and operational performance, our focus on technology and our strong ESG commitment and credentials.”

The Iron Bridge magnetite project is a joint venture between Fortescue’s subsidiary FMG Magnetite (69%) and Formosa Steel IB (31%). The operation is expected to deliver 22 million tonnes per annum of high grade 67% Fe magnetite concentrate product. First production is scheduled for Q1 2023. 

Source: Thiess