Fortescue JV signs exploration agreement for Belinga project in Gabon
Australia’s Fortescue Metals Group announced that its majority-owned joint venture (JV ), Ivindo Iron, has signed an exploration agreement with the Gabon Government for the Belinga iron ore project. The agreement comprises key commercial and legal terms for the exploration of the Belinga project, allowing the grant of exploration licences to the JVfor a 4,500km² area. Fortescue said the agreement also envisages a $90m exploration programme at the Belinga iron ore project, over a period of three years. Fortescue Metals owns an 80% stake in Ivindo Iron while the remaining 20% is held by the…
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