The Eliwana project, located approximately 80km northwest of the Tom Price township in the Pilbara region, Fortescue said, will build on its development and construction capability, utilising the latest technology, autonomous trucks and design efficiency, while redeploying existing assets to this development.

The development of the project will include 143km of rail, a new 30Mtpa dry ore processing facility (OPF) and infrastructure. It will create up to 1,900 jobs during construction and 500 full-time site positions, once operational, in Western Australia.

A definitive feasibility study report (DFS) has been completed with detailed design about to commence. The approvals process is under way for two public environmental reviews and a mining proposal.

At a recent customer event, Fortescue's chief executive Elizabeth Gaines said: "Over the past 15 years, we have invested over US$22 billion in building our infrastructure and assets in the Pilbara to establish our position as a global supplier of iron ore.

"This investment is set to grow with the Eliwana project, which lays the foundation for the future development of our iron ore operations and provides greater flexibility to capitalise on market dynamics."

Production at Eliwana is scheduled to commence in December 2020.