Fortescue has purchased and taken control of the two Christmas Creek Ore Processing Facilities from Crushing Services International (CSI).
It comes less than six months after the miner used its step-in rights to take management of the two plants away from CSI, which owned and operated the facilities under the original Build Own Operate contracts.
At the time FMG said it "has taken this action as part of working with CSI and its parent company Mineral Resources to ensure the safe and hazard free operation of the Ore Processing Facilities (OPF)", and followed the death of a worker at the site.
Since exercising its step-in rights Fortescue has brought in 212 employees under CSI into its workforce to continue the efficient operation of the OPF and jigs plant.
FMG CEO Nev Power thanked CSI for its co-operation during the step-in and eventual buy out.
“This co-operative approach has ensured a smooth transition throughout,” Power said.
“This outcome will assist in ensuring cultural alignment amongst the valued personnel who are responsible for the day to day operation of these important assets.”
The acquisition also doubled as part of the miner’s debt reduction program.
“Fortescue sees this acquisition as an extremely positive benefit for the continued growth of the company,” he added.