Fortescue sets revised production timeline for Iron Bridge

The company now expects to ship between 10-million and 12-million tonnes in the 2026 financial year, rising to an annualised rate of 16-million to 20-million tonnes in the second half of the 2027 financial year.

Nameplate production is only expected to be reached in the 2028 financial year, indicating a full five-year ramp-up from first concentrate production in 2023.

The company previously expected the mine to be operating at full capacity of 22-million tonnes a year by September 2025.

The delays follow an internal optimisation assessment of the dry plant, with efforts focused on the air classification circuit and downstream aerobelt conveyors. Fortescue said it undertook an in-house redesign of the air classification units and installed upgraded ceramic liners to mitigate premature erosion, which had been affecting plant performance.

“Iron Bridge is on track to safely and successfully achieve its 2025 financial year market guidance for shipments and operating costs,” Fortescue said in a statement. “It remains an important operation for Fortescue, increasing production and shipping capacity, while complementing and enhancing its existing product portfolio.”

The A$3.9-billion magnetite project is key to Fortescue’s product diversification strategy, offering a high-grade concentrate that differs from its predominantly hematite output from the Pilbara. 

Iron Bridge is a joint venture between FMG Magnetite, a wholly owned subsidiary of Fortescue (69%), and Formosa Steel IB (31%).