By Rhiannon Hoyle

SYDNEY--Fortescue Metals Group Ltd. (FMG.AU) said it will develop the Queens Valley mining area at its Solomon Hub in Western Australia for roughly US$287 million.

The world's fourth-largest exporter of iron ore said the development will ensure it can "maintain production of the low-alumina Kings Fines product and is consistent with Fortescue's strategy of optimising margin through an enhanced product mix."

The Queens Valley development has an expected life between 10 and 15 years.

Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com

(END) Dow Jones Newswires

May 21, 2019 20:09 ET (00:09 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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