FMG to invest $417m into Queens Valley

Fortescue Metals Group will spend about $417 million to develop the Queens Valley mining area in the Pilbara as part of a plan to boost margins through higher grade product.

News.com.au is reporting the development is part of the world’s No.4 iron ore miner’s plan to boost margins through higher grade products.

“The Queens mining area development will maintain our highly valued Kings Fines low-alumina sinter fines product which supplies Fortescue’s key customers in China as well as in Japan and Korea,” chief executive Elizabeth Gaines said in a statement.

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