More info on Iron Bridge : I just fond a RECENT update on EPA...

More info on Iron Bridge :
I just fond a RECENT update on EPA approvals from AFR on March 17.

“Andrew Forrest's Fortescue and partners moving closer to call on new mine

Andrew Forrest's Fortescue Metals Group is inching forward with a proposed $1.5 billion iron ore project after an amended mine plan earned a tick of approval from Western Australia's embattled environmental watchdog.

The Environmental Protection Authority revealed last week that it had signed off on a big increase in groundwater use for the Iron Bridge magnetite project about 11o kilometres south east of Port Hedland ...” ....



MORE BACKGROUND
It used to be called North Star but the name was changed when Fortescue went into a JV merger with Baosteel in 2012
http://member.afraccess.com/media?id=CMN://6A592961&filename=20120613/FMG_01305110.pdf
... “Following completion of the transaction Fortescue will own 88% and Baosteel will own 12% of FMG Iron Bridge a Hong Kong based subsidiary of Fortescue...”

Then in 2013 https://static1.squarespace.com/static/5acbfcd40dbda3fb2fce9560/t/5aea6251575d1f6c118a4e12/1525310035965/1. Fortescue Executes US$1.15 Billion Joint Venture Agreement with Formosa.pdf

Fortescue executes US$1.15 billion Joint Venture Agreement with Formosa

o Acquire a 31% unincorporated joint venture interest in FMG Iron Bridge Joint Venture for US$123 million
o Fund the first US$527m of capital expenditure on the FMG Iron Bridge Project development. This funding covers construction of Stage One which will commence on completion of the transaction at an estimated capital cost of US$340m
o Participate in Stage Two of the FMG Iron Bridge Project, subject to receipt of relevant Government approvals and Joint Venture sanction. If approved, Stage Two would be funded by the balance of the Formosa’s initial funding, a contribution of the next US$1050m from FMG Iron Bridge Ltd, followed by proportional contributions (31% Formosa, 69% FMG Iron Bridge Ltd)
o Agree to purchase up to three mtpa of iron ore at market prices to supply Formosa Ha Tinh Steel mill when commissioned
o Elect to prepay US$500m upfront to The Pilbara Infrastructure Pty Ltd to access Fortescue’s port facilities at Herb Elliott Port under separate infrastructure access arrangements

The transaction is subject to Australian Foreign Investment Review Board and Taiwan Investment Commission approval, which is expected in September 2013.
Construction of Stage One is expected to take 12 months, with first production of 1.5 mtpa of 66%Fe mHematite product commencing in early 2015.”