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Fortescue’s Iron Bridge blowout may top $1b – The Australian Financial Review
The miner revealed cost blow outs on the Iron Bridge project could now be double the size that was disclosed in February.
Fortescue Metals Group says its Iron Bridge project could cost as much as $US900 million ($1.16 billion) more than first thought, with the blow outs now potentially double the size disclosed in February.
The miner said the project would now cost between $US3.3 billion and $US3.5 billion, well above the original $US2.6 billion budget that was in place until January.
Fortescue said in February that Western Australias hot labour market, the strong Australian dollar and other factors had driven a blow…
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