Exploration

Fortescue has a large tenement portfolio in the Pilbara. The exploration drilling program, focused primarily on identifying and defining new targets for bedded mineralisation in and around the existing Chichester and Solomon Hubs, continued through FY15.

Fortescue continues to evaluate opportunities that afford low cost entry to exploration potential in a range of commodities. A co-funded drilling grant from the WA State Government of up to A$150,000 for the Trifecta base metals project in the West Pilbara was received, and a Fortescue managed joint venture covering approximately 320 square kilometres near Orange in central NSW extends exploration into an area prospective for copper.