Iron Bridge Joint Venture

1 March 2014

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As published in CK Momentum Issue 1 (Click here to download)

In October 2013, the Formosa Plastics Group of Taiwan and Fortescue Metals Group Limited established the Iron Bridge Joint Venture to develop the FMG Iron Bridge Iron Ore Project, a 5.2 billion tonne magnetite resource in the Pilbara region of Western Australia – the largest single iron ore resource in Australia.

Managing Partner (and Corporate & Resources Partner) John Toigo and Senior Associate Brad Vinning, with other team support advised Formosa Plastics Group on its $US1.15 billion investment in the acquisition and establishment of the JV.

Accounting for 13% of Taiwan’s GDP in 2012, the Formosa Plastics Group is Taiwan’s largest private company. It is constructing a 22 million tonnes per annum USD $20 billion integrated steel mill in Vietnam. This greenfield project is the largest of its kind in the steel making industry globally and, once finished, will comprise 6 blast furnances.

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