Exploration

Fortescue has the largest tenement portfolio in the Pilbara. While exploration activity in FY16 was primarily focussed on Fortescue’s iron ore tenements, the Company continues to undertake early stage, low cost exploration on coppergold prospective tenements in South Australia and New South Wales. Fortescue is also assessing high potential, early stage exploration tenements in highly prospective areas of Ecuador. This exploration is in line with Fortescue’s strategy of focussing on its core iron ore business while creating low cost future optionality.