Thiess secures $700m mining services contract for Iron Bridge Project

CIMIC Group company Thiess has been awarded a new contract valued at $700 million for mining services at Fortescue Metals Group Ltd’s Iron Bridge Magnetite Project in Western Australia. 

The contract award will have an initial duration of three years and will get Thiess to undertake mining and maintenance services as well as asset management services. 

“This is a significant project for Thiess as we pursue our strategy to diversify across commodities and deliver sustainable mining solutions for our clients. 

“Thiess’ appointment reinforces our mining capability, reputation for mobilisation and operational performance, our focus on technology and our strong ESG commitment and credentials. We are looking forward to working with the Iron Bridge team to deliver outstanding results in mining and sustainability to ensure we exceed the client’s expectations,” Thiess Executive Chain and CEO Michael Wright said. 

The Iron Bridge Magnetite Project is a joint venture between Fortescue Metals Group’s subsidiary FMG Magnetite and Formosa Steel IB. 

The approximately US$3.8 billion project is located 145 kilometres south of Port Hedland and it is comprised of two world-class ore bodies – the North Star and Glacier Valley Magnetite ore bodies. 

Iron Bridge is anticipated to have its first production by March 2023, delivering up to 22Mtpa of high grade 67 per cent iron magnetite concentrate product. 

“We look forward to creating a project that delivers value for our client, our people and the surrounding communities. We are focused on community engagement and creating opportunities for Nyamal-owned businesses and employment pathways for local people,” Thiess Executive General Manager Australia West Spencer Jose said. 

Thiess is due to begin operations at the Iron Bridge Magnetite Project this month. 

Source: Thiess; CIMIC Group; Fortescue Metals Group Ltd; Australian Mining; International Mining