Business
Fortescue’s Iron Bridge woes could top $1 billion, review finds – The Sydney Morning Herald
Fortescue, one of the nation’s largest mining companies, is suffering further setbacks developing a key iron ore growth project in WA.
Fortescue, one of the nations largest mining companies, is suffering further setbacks developing a key growth project in Western Australia as cost blow-outs risk running higher than $1 billion.
The Andrew Twiggy Forrest-backed miner on Friday said it had completed a full-scale review into the troubled Iron Bridge magnetite project and warned investors it could now cost as much as $US3.5 billion ($4.5 billion) up from a $US3 billion estimate given in February and $US2.6 billion in 2019.
Andrew Forrest…
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