Fortescue began as an exploration company and today our iron ore tenements remain key to maintaining mine life and sustaining product quality in our core iron ore business.
Our exploration activities in the Western Hub, Solomon Hub and Eastern Hamersley are focused on adding high iron content, dry, low-cost tonnes to our product suite, providing further optionality for the business.
Study work is progressing at Nyidinghu and Mindy South, located south-east of Nyidinghu in the Eastern Hamersley. Recent Australian exploration activity has been primarily focused on early stage target generation for copper-gold in the Paterson region in Western Australia. Additional exploration activity is underway in New South Wales and South Australia.
We recognise that early stage exploration can unlock significant value. Our world class exploration capability is driving future growth as we target global opportunities and commodities that support decarbonisation and electrification of the transport sector.
Fortescue has a well established presence in Latin America, including Argentina where we currently hold tenements prospective for copper-gold. We are also assessing exploration and development opportunities in Colombia, Ecuador, Peru, Chile and Brazil.
Fortescue has a 19 per cent stake in TSX listed Candente Copper Corporation and we are focused on advancing the Canariaco project in Peru. In Kazakhstan, a range of copper targets are being progressed to drilling while work in Portugal is focused on development of lithium opportunities.