Fortescue Acquires Two Iron Ore Processing Plants


News: Australian mining company Fortescue Metals Group has acquired two Christmas Creek iron ore processing plants in the Pilbara region of Western Australia. Fortescue acquired the plants from Crushing Services International (CSI), a subsidiary of Australia-based mining company Mineral Resources. The acquisition is in line with the options granted by CSI under the original build-own-operate contracts. Fortescue CEO Neville Power said 'Fortescue sees this acquisition as an extremely positive benefit for the continued growth of the company. We are now getting substantial volume and revenue increases from our expanded operations', reports SteelOrbis.

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Related sectors of this article: Metals
Geography: Australia