What is the Belinga Iron Ore Project?
The Belinga Iron Ore Project is located in the northeast of Gabon. The deposit was initially discovered in 1955, and subsequent exploration in the 1970s identified high iron and low contaminant mineralisation. The deposit sits in Archean aged rocks of the Congo Craton. The lithology and structure are typical of other greenstone belts that commonly host banded iron formations and itabirites found in other parts of West Africa such as the Simandou project.
The Belinga Iron Ore Project has been progressively assessed by Fortescue since 2018, and we’re working closely with the Gabonese government to deliver first shipment by the end of 2023.
What is happening now?
In February 2023, Fortescue, through its incorporated joint venture company, Ivindo Iron SA, successfully signed a Mining Convention with the Government of Gabon. This governs all legal, fiscal and regulatory regimes for the project. First ore was trained to port in June 2023 and we are on track for first shipment by the end of calendar 2023.
The Belinga project opens growth opportunities for Fortescue throughout Africa. Every indication we have shows the project has the potential to be significant scale and very high-grade. Studies continue to advance potential designs of a large scale development.
Ivindo Iron SA is the operating entity for the Belinga Project and Fortescue has a 72 per cent indirect interest in the company.
What we’re doing in communities
Fortescue was founded on the belief that communities should thrive as a result of our success.
The investments in the Belinga Iron Ore Project will bring infrastructure and economic opportunities that will benefit national and local communities, engaging local businesses and providing training opportunities. Since the project began, hundreds of local jobs have been created in Gabon.
We are placing the highest focus on responsible environmental management in accordance with our approved Environmental and Social Impact Assessment.