On January 21, 2022, Sinosteel Group and FMG Group, the world's fourth largest iron ore producer, held a signing ceremony in Perth, Australia for a Memorandum of Understanding (MOU) on cooperation in the iron ore project in the Midwest region of Western Australia, which laid the foundation for subsequent cooperation in the development of iron mines and supporting infrastructure in the Midwest region of Western Australia. Mr. Liu Andong, Director and General Manager of Sinosteel Group, witnessed the signing by video connection in Beijing.
Liu Andong said in his speech that Sinosteel was one of the first Chinese companies to develop mining projects in Australia, and has made historic contributions to the development of China's steel industry and the prosperity of Western Australia's mining economy. For a long time, Sinosteel, like other pioneers, has harbored a firm dream of developing a world-class magnetite project in the central and western region. The world-class nature of the Midwest project is not only reflected in the scale of the resource, the processing characteristics of the ore and the quality of the product, but also in the huge renewable energy potential. At present, the global climate crisis is becoming increasingly severe, and Sinosteel has actively participated in the transformation of the steel industry into green development. It has not only undertaken the world's first hydrogen metallurgy demonstration project, but also laid out green steel raw materials for the new generation for many years. FMG is not only a first-class iron ore producer, but also an explorer in the development of green energy. Sinosteel is confident that together with FMG, we will build the Midwest region of Western Australia a green, low-carbon and high-quality center of iron mines and lead the development of magnetite in the central west into a new era.
Elizabeth Gaines, FMG Group CEO, said that Sinosteel has demonstrated its proven track record and excellent project execution capabilities in the development of mining projects in Australia for more than three decades and FMG looks forward to continuing to strengthen its pragmatic cooperation with Sinosteel on a project that, in addition to magnetite and infrastructure development, offers a great opportunity to integrate FMG's existing iron ore and infrastructure businesses with the green energy objectives of the Group's future industrial companies. As FMG Group continues to explore green energy developments, including the construction of a renewable, green hydrogen energy hub in Okogie of the Midwest, it will provide a large-scale resource and renewable energy project in Western Australia, further cementing FMG Group's enduring relationship with Chinese enterprises.
Under the MOU, the parties have agreed to cooperate on a joint assessment of the Midwest iron ore projects. Funded by FMG, the two parties aim to conduct a joint assessment of Sinosteel Midwest Iron Mine, Jack Hill Iron Mine and Okogie Port and Rail (OPR) infrastructure projects within a year's time to finalize the investment plan and business development model.
The General Manager Assistant of Sinosteel Group and relevant responsible persons of Sinosteel Overseas witnessed the signing in Beijing. More than 20 people in charge of relevant enterprises of Sinosteel Australia and senior executives of FMG Group attended the signing ceremony on site in Perth.
Speech by Andong Liu
Signing Site in Perth
Site in Beijing