Fortescue Metals Group Limited
(ASX:FMG) has found a 1.16 billion tonne addition to its Greater Solomon Mineral Resource. The total mineral resource for the Greater Solomon Area has now been lifted to over 4.5 billion tonnes. The deposits are within a 50 km radius of existing infrastructure at the Solomon Operating Hub. The ore has been identified both at the surface and beneath alluvial cover and Fortescue hopes to be able to transport the ore to existing ore processing facilities. The group has also found an increase of 116 million tonnes at its Eliwana-Flying Fish project or Western Hub. Fortescue is also undergoing a review of its Greater Chichester Mineral Resource.
Fortescue Metals Group reported a record earnings result of $1.9 billion for the half year ended 31 December 2014.
